Oppenheimer Remains Bullish Ahead of FedEx (FDX) F4Q15 Results

Oppenheimer reiterates an Outperform rating and $200.00 price target on FedEx (NYSE: FDX) ahead of F4Q15 earnings report. Analyst Scott Schneeberger anticipates 20+% FY16 EPS growth with FDX introducing guidance that encompasses a maintained est/consensus of $11.00/$10.88. FDX is scheduled to release its report on June 17th.

Schneeberger commented, "With F4Q15 likely consistent with expectations, we anticipate 20+% FY16 EPS growth with FDX introducing guidance that encompasses our maintained est/consensus of $11.00/$10.88. We further anticipate such guidance to be well received considering it would provide incremental insight to the company's confidence/progress toward its FY16 profit improvement plan goal. Although domestic/global GDP/global trade uncertainty may persist in FY16, our view primarily stems from FDX's positioning to benefit from improved domestic pricing (e.g. Ground segment dimensional/weight pricing), continued e-commerce momentum, and its aforementioned $1.65B FY13- FY16 profit improvement build. Reiterating all estimates/our Outperform/$200 PT primarily on FDX's elevated FY15-16 EPS growth profile, the story remains intriguing on recent acquisition announcements contribution on the horizon thereafter."

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 $183.63 yesterday.

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