In a report published Tuesday, Deutsche Bank analyst Justin Yagerman reiterated a Buy rating on FedEx FDX, but lowered the price target from $129.00 to $125.00.
In the report, Deutsche Bank noted, “While we have lowered our FY2014 EPS estimate to $7.15, from $7.57, we believe our more tempered outlook is closer to lower Buyside expectations given current freight demand. We are still expecting $175 million in cost savings from the voluntary buyout program (assuming 3,500 employees sign up for the program and half of the wage and benefit savings are realized in FY2014).”
FedEx closed on Monday at $101.08.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
