Jefferies Says TNT Bid Could Be More Accretive to FedEx (FDX)
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Rating Summary:
24 Buy, 16 Hold, 0 Sell
Rating Trend: 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.
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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