After-hours movers: FedEx reports strong results, Rivian surges on pact with VW
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FedEx (FDX) PT Raised to $335 at Argus
June 27, 2024 7:17 AM EDTArgus analyst John Eade raised the price target on FedEx (NYSE: FDX) to $335.00 (from $325.00) while maintaining a Buy rating.
The analyst comments "Our rating on FedEx Corp. (NYSE: FDX) is BUY. This large-cap blue-chip industrial... More
FedEx (FDX) PT Raised to $335 at TD Cowen
June 26, 2024 6:03 AM EDTTD Cowen analyst Helane Becker raised the price target on FedEx (NYSE: FDX) to $335.00 (from $320.00) while maintaining a Buy rating.
The analyst comments "FDX reported May quarter adj EPS of $5.41, below our estimate of $5.48 but beating consensus by 1.2%. The company guided FY25... More
Canaccord Genuity Reiterates Buy Rating on Rivian Automotive Inc (RIVN)
June 26, 2024 5:59 AM EDTCanaccord Genuity analyst George Gianarikas reiterated a Buy rating and $20.00 price target on Rivian Automotive Inc (NASDAQ: RIVN).
The analyst comments "Relief. Giant relief. Rivian secured up to $5B (up to $3B directly to Rivian) in financing from Volkswagen to help bridge its operations to FCF positive. In return, Rivian will license its existing electrical (E/E) architecture and vehicle software to an equally controlled/owned JV with VW (up to $2B in financing from VW). Rivian gets capital. In the short term, the JV will in return enable VW to utilize the Rivian... More
JPMorgan Upgrades FedEx (FDX) to Overweight 'on Strategic Options in Freight'
June 26, 2024 5:28 AM EDTJPMorgan analyst Brian Ossenbeck upgraded FedEx (NYSE: FDX) from Neutral to Overweight with a price target of $359.00 (from $296.00).
The analyst comments "We are upgrading shares of FedEx to Overweight and establishing a Dec 2025 price target of $359 after the company took the surprising step of pursuing strategic options for the Freight segment, which is currently embedded in FDX trading at 6.7x versus pure-play peers at 13.3x on NTM EV/EBITDA. Capitalizing on this valuation disconnect through a potential spin-off would be a positive for the rest of the LTL... More
Jefferies Reiterates Hold Rating on FedEx (FDX)
June 26, 2024 5:25 AM EDTJefferies analyst Stephanie Moore reiterated a Hold rating and $300.00 price target on FedEx (NYSE: FDX).
The analyst comments "FDX reported an in-line F4Q24 while also providing initial FY25 guidance that was also in-line. For the year-ahead the company expected EPS to be between $20 -... More
DA Davidson Reiterates Buy Rating on Tecnoglass (TGLS)
June 26, 2024 5:19 AM EDTDA Davidson analyst Brent Thielman reiterated a Buy rating and $60.00 price target on Tecnoglass (NYSE: TGLS)
The analyst comments "AMC TGLS announced the Board is reviewing strategic alternatives including input from outside counsel, with no definitive timeline. Ultimately we believe TGLS could... More
FedEx (FDX) PT Raised to $339 at Evercore ISI
June 26, 2024 5:06 AM EDTEvercore ISI analyst Jonathan Chappell raised the price target on FedEx (NYSE: FDX) to $339.00 (from $318.00) while maintaining a Outperform rating.
The analyst comments "FDX posted adjusted F4Q24 EPS of $5.41, coming in slightly ahead of our forecast of $5.28 and the average Street estimate of $5.34. The upside came primarily from the Freight (LTL) segment and a slightly higher Ground margin than anticipated, which more than offset another weak performance for overall volumes and Express... More
Rivian Automotive Inc (RIVN) PT Raised to $8 at CFRA
June 26, 2024 5:00 AM EDTCFRA analyst Garrett Nelson raised the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $8.00 (from $5.00) while maintaining a Sell rating.
The analyst comments "We lift our 12-month target to $8 from $5. Volkswagen (VOW3 GR) announced a deal... More
Rivian Automotive Inc (RIVN) PT Raised to $13 at Truist Securities in Seperate Note Ahead of Investor Day
June 25, 2024 4:52 PM EDTTruist Securities analyst Jordan Levy raised the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $13.00 (from $10.00) while maintaining a Hold rating.
The analyst comments "Ahead of RIVN's investor day on Thursday, we outline the main items we'll be focused on into the event.... More
Truist Securities Reiterates Hold Rating on Rivian Automotive Inc (RIVN), Comments on Volkswagen JV
June 25, 2024 4:51 PM EDTTruist Securities analyst Jordan Levy reiterated a Hold rating and $10.00 price target on Rivian Automotive Inc (NASDAQ: RIVN).
The analyst comments "This afternoon, RIVN & Volkswagen (VOW-GR, NR) announced a Joint Venture building on RIVN's integrated software/electrical architecture platform & focused on creating nextgeneration software-defined vehicle (SDV)... More
