$FDX Upgrade timely for FedexEntry level $16040 or $162 above downtrend
Target price $ 186.42
Indicators very bullish and in strong reversal.
Upgrade today well timed as earnings approach.
FedEx rating change at UBS FedEx upgraded to Neutral from Sell at UBS. UBS analyst Thomas Wadewitz upgraded FedEx to Neutral from Sell with a price target of $161, up from $132. The analyst says his Sell thesis has essentially played out as fiscal 2020 earnings expectations have fallen sharply and the stock has also moved down. While he does not anticipate near term improvement in financial results from FedEx, he believes the shares now reflect the "bad news," limiting further downside.
Source-thefly.com
P/E ratio 10
Company profile
FedEx Corp. is a holding company, which engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other, and Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight. The FedEx Ground segment focuses on small-package ground delivery services. The FedEx Freight segment offers less-than-truckload freight services across all lengths of haul. The FedEx Services segment provides sales, marketing, information technology, communications, customer service, technical support, billing and collection services, and certain back-office functions. The Corporate, Other, and Eliminations segment includes corporate headquarters costs for executive officers and certain legal and finance functions, as well as certain other costs and credits not attributed to the company's core business. The company was founded by Frederick Wallace Smith on June 18, 1971 and is headquartered in Memphis, TN.
