FedEx (FDX) – Research Analysts’ Weekly Ratings Changes
A number of firms have modified their ratings and price targets on shares of FedEx (NYSE: FDX) recently:
- FedEx had its “neutral” rating reaffirmed by analysts at Credit Suisse. They now have a $95.00 price target on the stock.
- FedEx had its “overweight” rating reaffirmed by analysts at JPMorgan Chase.
- FedEx was upgraded by analysts at Standpoint Research from a “hold” rating to a “buy” rating. They now have a $130.00 price target on the stock.
- FedEx had its price target raised by analysts at Stifel Nicolaus from $108.00 to $120.00. They now have a “buy” rating on the stock.
- FedEx had its price target raised by analysts at Citigroup from $99.00 to $108.00. They now have a “buy” rating on the stock.
- FedEx had its price target raised by analysts at Robert W. Baird from $102.00 to $105.00. They now have an “outperform” rating on the stock.
- FedEx had its “overweight” rating reaffirmed by analysts at Barclays Capital. They now have a $100.00 price target on the stock.
- FedEx was downgraded by analysts at Zacks from a “neutral” rating to an “underperform” rating. They now have a $84.00 price target on the stock. Zacks‘ analyst wrote, “We downgrade our recommendation on FedEx Corporation to Underperform. The first quarter fiscal 2013 earnings outpaced the Zacks Consensus Estimate but were below the year-ago level due to lower revenue yield at FedEx Express, offsetting growth at the Freight and Ground segments. We remain concerned about the margin performance of Express segment, which is expected to remain subdued due to demand shift from premium to deferred products given economic volatilities. Domestic and international Express volumes are also expected to remain weak owing to poor demand trend. Despite the company’s effort in reducing cost, rising pension and depreciation expenses may impede near-term growth goals. Further, we remain cautious on the company’s expansion strategy in Europe given the current backdrop of the European economy. “
FedEx traded up 1.12% on Wednesday, hitting $92.95. FedEx has a 52-week low of $74.96 and a 52-week high of $97.19. The company has a market cap of $29.195 billion and a price-to-earnings ratio of 14.36.
FedEx Corporation (FedEx) is a holding company. The Company provides a portfolio of transportation, e-commerce and business services under the FedEx brand.