Goldman Sachs Maintains a 'Buy' on FedEx (FDX); Expected The Reduction

September 5, 2012 10:32 AM EDT
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Price: $186.05 -0.51%

Rating Summary:
    20 Buy, 14 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Goldman Sachs maintains a 'Buy' on FedEx (NYSE: FDX) price target of $101.00.

Analyst, Tom Kim, said, "FDX announced that it expects its FY1Q13 EPS to be in a range of $1.37-$1.43, reduced from a range of $1.45-$1.60 previously. FDX’s updated guidance reflects weaker-than-anticipated sales growth in the company’s Express business in 1Q13. The revised guidance is in-line with our FY1Q13 EPS estimate of $1.41...The news does not surprise us given weak airfreight trends observed during the past couple of months."

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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