Goldman Maintains Buy on FedEx (FDX)

March 21, 2013 11:48 AM EDT
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Price: $228.92 -0.07%

Rating Summary:
    25 Buy, 15 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 16 | Down: 13 | New: 52
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Goldman Sachs today maintained a Buy rating on FedEx (NYSE: FDX) with a price target of $115.00. Yesterday Fedex stock declined 6.9 percent after the company reported disappointed Q3 results.

Commenting on developments, analyst Tom Kim said, "We reiterate our Buy rating for FDX given the nascent recovery in global airfreight volumes (as demonstrated in 2Q and 3Q results) and our expectation that the company’s initiatives to realign its network around the mix shift from international priority to international economy will progressively bolster earnings over the next 2-3 years."

For an analyst ratings summary and ratings history on FedEx (NYSE: FDX) click here. For more ratings news on FedEx click here.

Shares of FedEx closed at $99.13 yesterday.

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