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Fly News Breaks for June 20, 2018
FDX
Jun 20, 2018 | 07:59 EDT
Baird analyst Benjamin Hartford said he still likes FedEx's positioning given its visibility to a rising return-on-capital and cash flow profile over time. However, near-term catalysts appear limited given the incremental macroeconomic cycle and trade risks and a still constrained free cash flow profile that keeps him cautious near-term. The analyst recommends trimming positions into strength, but would be a more aggressive buyer near the $240 level. Hartford maintains his Outperform rating and $280 price target on FedEx shares.
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