Information Provided By:
Fly News Breaks for May 13, 2019
FDX
May 13, 2019 | 08:24 EDT
Cowen analyst Helane Becker says the recent weakness in FedEx shares creates a buying opportunity, telling investors in a research note that she believes FedEx will see improving margins over the next few years as it benefits from cost reductions in the business. Becker expects FedEx to offer a voluntary retirement program to international employees this year and adds that it is seeing strong retail and e-commerce business, but weaker trends in industrial production. She maintains an Outperform rating and $230 price target.