UBS Maintains a 'Buy' on FedEx (FDX); Cutting Estimates on Guide Down
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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!
UBS maintains a 'Buy' on FedEx (NYSE: FDX) price target of $110.00 (from $117.00).
Analyst, Kevin Crissey, said, "FedEx announced that its previous EPS guidance of $1.45 to $1.60 for the quarter was too high after re-assessing FedEx Express revenue growth. Mgmt identified weakness in the global economy as the culprit of Express’ stunted growth...Manangement took Q1 EPS guidance down by 8% but left the full year guidance ($6.90-$7.40) alone. Our forecast had been at the high end of this range but we think the lower end appears much more probable now."
FY13 EPS Estimate lowered from $7.40 to $6.97 and FY14 from $8.67 to $8.14.
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, Kevin Crissey, said, "FedEx announced that its previous EPS guidance of $1.45 to $1.60 for the quarter was too high after re-assessing FedEx Express revenue growth. Mgmt identified weakness in the global economy as the culprit of Express’ stunted growth...Manangement took Q1 EPS guidance down by 8% but left the full year guidance ($6.90-$7.40) alone. Our forecast had been at the high end of this range but we think the lower end appears much more probable now."
FY13 EPS Estimate lowered from $7.40 to $6.97 and FY14 from $8.67 to $8.14.
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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