Jefferies Downgrades FedEx (FDX) to Hold On Valuation
Tweet
Share
E-mailGet Alerts FDX Hot Sheet
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
Join SI Premium – FREE
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies upgrades Five Below to Buy, sees path to TJX-like re-rating
- Wolfe Research Downgrades T-Mobile (TMUS) to Peerperform
- JPMorgan Downgrades HomeCo Daily Needs REIT (HDN:AU) to Neutral
Create E-mail Alert Related Categories
DowngradesRelated Entities
Jefferies & CoSign 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!
