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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
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!
Already a member?Sign in