Expeditors price target raised to $129 from $126 at Goldman Sachs

Goldman Sachs analyst Jordan Alliger raised the firm’s price target on Expeditors (EXPD) to $129 from $126 but keeps a Sell rating on the shares after its Q4 results. Air and ocean net revenues were behind the firm’s estimates respectively, offset partially by Customs Brokerage net revenues, the analyst tells investors in a research note. Given the increased complexity of customs brokerage, the firm prefers to see Expeditors capture additional price while taking down cost through technology investments, Goldman adds.