Jefferies Downgrades FedEx (FDX) to Hold On Valuation
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Price: $334.64 -1.39%
Rating Summary:
28 Buy, 16 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
28 Buy, 16 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Jefferies downgraded FedEx (NYSE: FDX) from Buy to Hold with a price target of $99 (down from $113).
The firm comments, "We downgraded FDX after a 39% move off the October 3 lows. We believe our call from mid-October — that U.S. freight flows had started to strengthen and that investors should increase risk exposure to our stocks — has become the consensus view. Moreover, our short-cycle indicators recently turned negative."
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 $90.37 yesterday.
The firm comments, "We downgraded FDX after a 39% move off the October 3 lows. We believe our call from mid-October — that U.S. freight flows had started to strengthen and that investors should increase risk exposure to our stocks — has become the consensus view. Moreover, our short-cycle indicators recently turned negative."
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 $90.37 yesterday.
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