Barclays Maintains an 'Overweight' on FedEx (FDX); Cutting Estimates After Lowered Outlook
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Price: $97.82 -1.29%
Rating Summary:
13 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
13 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade FDX Now!
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, with a 52 week range of $64.07-$97.19.
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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, with a 52 week range of $64.07-$97.19.
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