FedEx Likely To Report Higher Q2 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
Portfolio Pulse from Avi Kapoor
FedEx Corporation (NYSE:FDX) is expected to report higher earnings for Q2, with analysts predicting $4.20 per share, up from $3.18 the previous year, and revenue of $22.41 billion. The company is facing a lawsuit from PYNQ Logistics Services. Shares rose 0.2% to $281.92. Analysts from Deutsche Bank, BMO Capital, B of A Securities, UBS, and Evercore ISI Group have maintained positive ratings and raised their price targets for FedEx.
December 19, 2023 | 6:58 am
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FedEx is anticipated to report higher Q2 earnings with a positive outlook from analysts, despite facing a lawsuit. Stock price saw a slight increase.
The positive earnings forecast and increased price targets by top analysts suggest a bullish sentiment, which could lead to a short-term rise in stock price. However, the ongoing lawsuit may temper gains, but this news seems to have had a limited impact on the stock price as it has risen slightly.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100