ARGUS Maintains a 'Buy' Rating on FedEx (FDX), Price Target $111
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ARGUS maintains 'Buy' rating on FedEx (NYSE: FDX). Price target $111.
ARGUS analyst says, "BUY-rated FedEx Corp is being pressured by the weak U.S. economy, but the shares have rallied from their July lows of $73, as fuel cost concerns have eased in the wake of declining oil prices. We expect the company to continue to grow its global market share and look for the recent moderation in fuel prices to continue in the near term. The shares have been beaten down over the past year, and we feel that substantial negative sentiment is already priced into the stock. Based on our blended valuation analysis, we are maintaining our 12-month target price of $111."
FedEx Corporation (FedEx)provides a portfolio of transportation, e-commerce and business services through companies that compete collectively, operate independently and manage collaboratively, under the respected FedEx brand. [SM]
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