Information Provided By:
Fly News Breaks for September 18, 2018
FDX
Sep 18, 2018 | 09:18 EDT
Loop Capital analyst Rick Paterson raised his price target on FedEx to $318 after its Q1 results, saying the earnings miss was mainly due to wage increases that followed last year's tax cut legislation. The analyst adds that while FedEx raised its FY19 earnings guidance, its operating margins in Q1 were also lower as a result of higher hourly pay rates. Paterson remains positive on the stock and keeps his Buy rating, noting that the management's reaffirmation of expected operating profit improvement of $1.2B-$1.5B for its Express division in FY20 was particularly important for investor sentiment.
News For FDX From the Last 2 Days
FDX
Mar 26, 2024 | 20:34 EDT
Barclays analyst Brendan Lynch initiated coverage of Plymouth Industrial REIT (PLYM) with an Equal Weight rating and $22 price target. FedEx (FDX) is the REIT's second-largest tenant, and a July 2024 lease expiration for 770K sqf facility in St. Louis creates uncertainty, the analyst tells investors in a research note. The lease renewal appears to be dependent on FedEx separately renewing its dedicated service agreement with a company in an adjacent building, the firm added.