FedEx Faces Cyclical Risk, Yet 3 Key Factors Keep Bullish Analyst Undeterred
Portfolio Pulse from Priya Nigam
FedEx Corp (NYSE:FDX) shares climbed after reporting positive quarterly results. Despite cyclical risks, Susquehanna analyst Bascome Majors upgraded FedEx from Neutral to Positive and raised the price target from $225 to $315. Majors cited three reasons for his confidence: historical performance of FDX volumes vs. share performance, fiscal 2024 guidance that absorbs return of incentive comp and unwind of pandemic pricing, and conservative forecasts for FDX's market-share-leading LTL business Freight.
October 02, 2023 | 4:19 pm
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POSITIVE IMPACT
FedEx's stock climbed after positive quarterly results and an upgrade from Susquehanna analyst Bascome Majors. The price target was raised from $225 to $315.
The positive quarterly results and the upgrade from Susquehanna analyst Bascome Majors are likely to boost investor confidence in FedEx. The raised price target indicates a bullish outlook for the stock, which could drive its price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100