Market Overview

Deutsche Bank Raises Estimates on FedEx


Deutsche Bank is out with its report on FecEx (NYSE: FDX) in which it raises estimates on FDX.

In its report, Deutsche Bank writes, "We are maintaining our FY2011 EPS estimate of $5.17 and raising our FY2012 EPS estimate to $6.32, up from $6.15. We have improved our FH2 EPS estimates offsetting the FQ2 earnings miss on better margins. We have raised our PT to $120 based on 20x our raised CY2011 EPS estimate of $6.00/share. This compares to a trailing 5-year average P/E multiple of 16.7x. Risks include worsethan-expected IP volumes, volatile fuel costs, and FedEx Freight restructuring."

FDX closed yesterday at $94.22.


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