Barclays Maintains an 'Overweight' on FedEx (FDX); Cutting Estimates After Lowered Outlook

September 5, 2012 12:28 PM EDT
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Price: $187.23 +0.63%

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    Up: 5 | Down: 5 | New: 0
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Barclays maintains an 'Overweight' on FedEx (NYSE: FDX) price target of $114.00 (from $119.00).

Analyst, Brandon R. Oglenski, said, "Guidance reduction signals slower-than-expected Express growth...With evidence mounting of a slowing environment, we are more cautious on the outlook for the package integrators...Higher fuel and slower growth assumptions are driving our FDX estimates lower; FY13 goes to $6.90 from $7.40. Although our estimate reductions seem significant at first glance, higher fuel prices account for nearly 20c of the near-term revisions." (FY14 from $8.55 to $8.10)

For an analyst ratings summary and ratings history on FedEx click here. For more ratings news on FedEx click here.

Shares of FedEx closed at $87.54 yesterday.

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