UPDATE: Wunderlich Securities Initiates Coverage on FedEx Corporation with Buy Rating, $120 PT on Good Market Position

In a report published Friday, Wunderlich Securities analyst Chaz Jones initiated coverage on FedEx Corporation FDX with a Buy rating and $120.00 price target. In the report, Wunderlich Securities noted, “We are initiating coverage of FedEx Corporation (FDX) with a Buy rating and a $120 target. FedEx is well positioned to benefit from longer-term secular trends that include increased global sourcing and selling, more sophisticated supply chain management, and e-commerce expansion. While slow global growth, yield pressure from overcapacity, and international services trade down remain near-term headwinds, we expect internal initiatives will drive substantial margin improvement and EPS leverage at Express and Freight over the next 2-3 years. FDX has a successful history of flexing its portfolio of networks to meet market conditions. We are confident that management's strategic plan will result in reaching its goals of 10%+ enterprise margins while increasing cash flow, ROIC, and dividends.” FedEx Corporation closed on Thursday at $104.40.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorInitiationAnalyst RatingsChaz JonesWunderlich Securities
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!