J.P. Morgan Says FedEx Is Ready To Deliver

According to J.P. Morgan, FedEx

is ready to deliver. J.P. Morgan said that it expects a line type of 4QF11 earnings report from FDX on June 22 and guidance for F12 which brackets Consensus with a modest upside bias. “International airfreight data has been noisy over the past several months but we believe that small package trends have been better than the heavyweight airfreight data and the impact from Japan has been limited on FDX. While the move up in fuel prices is likely a modest headwind in 4Q, we believe that strong execution in their LTL restructuring and pricing momentum in small package provide offsets to the modest pressure from fuel. While macro factors remain a source of uncertainty, we believe it makes sense to buy FDX going into their 4Q report.” FedEx closed yesterday at $95.00.