Barclays maintains an 'Overweight' on FedEx (FDX); Q3 Preview: Fuel Concerns Create Opportunity
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Price: $334.64 -1.39%
Rating Summary:
28 Buy, 16 Hold, 3 Sell
Rating Trend:
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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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Barclays maintains an 'Overweight' on FedEx (NYSE: FDX) price target raised $1 to $116.00.
Analyst, Brandon R. Oglenski, said, "When FedEx reports Q3 earnings later this month, we expect high-fuel prices will again take front and center. While the surcharge lag is likely to weigh on reported earnings, we believe the recent rise in energy prices will be manageable. Capacity constraint across FDX's global network should help soften fuel's impact and the relatively healthy U.S. industrial economy provides a foundation for a brighter earnings horizon. Barring a materially higher move from current oil prices, we expect FDX will manage to generate meaningful earnings expansion set against relatively low market expectations."
FDX remains a Barclays Top Pick in its Transportation universe of coverage. Barclays raises FY12 EPS estimate from $6.27 to $6.29 and FY13 from $7.40 to $7.45.
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 $88.75 yesterday.
Analyst, Brandon R. Oglenski, said, "When FedEx reports Q3 earnings later this month, we expect high-fuel prices will again take front and center. While the surcharge lag is likely to weigh on reported earnings, we believe the recent rise in energy prices will be manageable. Capacity constraint across FDX's global network should help soften fuel's impact and the relatively healthy U.S. industrial economy provides a foundation for a brighter earnings horizon. Barring a materially higher move from current oil prices, we expect FDX will manage to generate meaningful earnings expansion set against relatively low market expectations."
FDX remains a Barclays Top Pick in its Transportation universe of coverage. Barclays raises FY12 EPS estimate from $6.27 to $6.29 and FY13 from $7.40 to $7.45.
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 $88.75 yesterday.
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