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Jefferies Says TNT Bid Could Be More Accretive to FedEx (FDX)

February 24, 2012 10:11 AM EST
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Price: $253.18 --0%

Rating Summary:
    24 Buy, 16 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 4 | New: 36
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Jefferies commented on a potential FedEx (NYSE: FDX) bid for TNT.

The firm comments, "We estimate that UPS's proposal of €9.00 would be 3.5% accretive in the near term, 5.9% accretive in the long term. Surprisingly, the transaction would be more accretive to FDX at this valuation. However, we estimate UPS can raise its bid to €12.75 without it turning dilutive, outbidding FDX's theoretical max by 13%."

The firm maintained a Hold rating on FDX but raised its price target from $99 to $100.

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 $91.97 yesterday.


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