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FDX

FedEx

09:13
09/15/17
09/15
09:13
09/15/17
09:13

FedEx 2020 operating income target may still be achievable, says Credit Suisse

Credit Suisse analyst Allison Landry acknowledges that the damage to FedEx from the cyber attack on TNT is likely significant and she is not recommending that investors buy into FedEx's Q1 report next week. However, to the extent that the company can convince that the TNT situation is contained and that it can still achieve its targeted operating income improvement of $1.2B-$1.5B by 2020, she thinks the report could remove an overhang and be a positive catalyst for the stock. The analyst, who thinks a path to the 2020 target may still be achievable, keeps an Outperform rating on FedEx and raised her price target on the shares to $242 from $237.

  • 21

    Sep

FDX FedEx

09/06/17
MSCO
09/06/17
NO CHANGE
MSCO
Tesla launch could be biggest trucking catalyst in decades, says Morgan Stanley
Morgan Stanley analyst Ravi Shanker contends that Tesla's (TSLA) promised upcoming reveal of its autonomous, electric Class 8 semi-truck could be the biggest catalyst in the trucking sector in decades. While no exact date has been announced yet, Tesla CEO Elon Musk said the reveal will come in September and Shanker thinks the NACV show in Atlanta on September 25 "could be a catalyst for the reveal." Tesla will have to clearly address the issues of range, charging time and payload/weight to be able to sell a "deeply skeptical" industry, added Shanker, who sees Schneider National (SNDR), FedEx (FDX), XPO Logistics (XPO) and Ryder (R) as among the most likely carrier partner contenders for Tesla.
09/11/17
MSCO
09/11/17
NO CHANGE
Target $144
MSCO
Equal Weight
TNT cyberattacks likely to dominate FedEx quarterly report, says Morgan Stanley
Morgan Stanley analyst Ravi Shanker previewed FedEx's earnings report on Sept. 19, stating that the June cyberattack on TNT Express will likely dominate the quarter and the call. Consensus estimates will most likely be cut heading into the event, though the magnitude will vary since management has yet not quantified the financial impact, he noted. Shanker, who thinks FedEx will lower guidance to include the impact of the cyberattack and cut his own FY18 EPS view to $13.06 excluding TNT integration and Outlook costs, keeps an Equal Weight rating on FedEx shares.
09/14/17
SBSH
09/14/17
NO CHANGE
SBSH
Buy
Citi sees 'tricky' setup into FedEx's Q1 results
Citi analyst Christian Wetherbee thinks the setup is "tricky" into FedEx's Q1 results next week. The stock has rallied off the post-cyber-attack lows into what should be a "messy" quarter, Wetherbee tells investors in a pre-earnings research note. He estimates the earnings per share impact of the TNT cyber-attack to be in the 50c-$1.00 range for FY18. As a result, Wetherbee expects FedEx to cut its full-year guidance. He recommends buying the shares on any post-earnings weakness, however. The company's long-term story "remains quite attractive," Wetherbee writes. He keeps a Buy rating on FedEx with a $235 price target and continues to see long-term value of $260-$290 per share.
09/15/17
UBSW
09/15/17
DOWNGRADE
UBSW
Neutral
FedEx downgraded to Neutral from Buy at UBS
UBS analyst Thomas Wadewitz downgraded FedEx to Neutral with a $233 price target to reflect TNT issues following the cyber-attack in June that knocked out multiple systems. Wadewitz said it is remains unclear if international operation, delivery confirmation and billing systems are fully running and thinks the resulting impact on volumes could last, reducing FedEx's ability to deliver 10%-15% earnings growth in 2018/19. The analyst believes FedEx risk/reward is balanced in the near-term and sees less clarity in FY18 with risk from TNT.

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