UBS Reiterates Buy Ahead of FedEx's (FDX) 1Q Earnings Report
- Futures up after Clinton seen winner in first debate
- Oil prices slip as hopes for a deal in Algiers fade
- Mexican and Canadian currencies rise, investors feel Clinton won debate
- Rice Energy (RICE) Acquires Vantage Energy in $2.7B Deal; FY16 Outlook Updated
- Kite Pharma (KITE) Announces Positive Topline Data from KTE-C19 ZUMA-1 Study in Aggressive NHL
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
UBS reiterated a Buy rating and $187.00 price target on FedEx (NYSE: FDX) ahead of the company's 1Q earnings report. UBS is expecting FDX to provide additional information on the impact of TNT including F17 EPS guidance with a modestly dilutive impact from TNT.
Analyst Thomas Wadewitz commented, "Our analysis indicates that the macro environment for FDX was likely stable in 1QF17 for FDX and similar to the environment in 4QF16. This is based on looking at the ISM PMI on average during 1Q and 4Q and also looking at IP Manufacturing and Retail Sales y/y. Jet fuel prices have been stable sequentially in 1Q vs 4Q (at ~$1.55/gal including taxes / loading charges) and in line with our forecast. While we don’t have clear visibility we believe there is room for upside relative to Consensus of $2.78/share and we are maintaining our estimate of $2.86/share."
Shares of FedEx closed at $160.07 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- WebMD Health (WBMD) Names Blake DeSimone CFO; Sees Q3, FY Results at High End of Guidance
- Boston Scientific (BSX) to Acquire EndoChoice (GI) in ~$210M Deal
- UBS Cuts Price Target on Civitas Solutions (CIVI) to $24; Expects 2017 Headwinds
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesUBS, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!