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FDX

FedEx

$185.01

2.81 (1.54%)

06:07
12/19/18
12/19
06:07
12/19/18
06:07

FedEx price target lowered to $262 from $318 at Loop Capital

Loop Capital analyst Rick Paterson lowered his price target on FedEx to $262 after its Q2 results, saying that while its earnings topped consensus, the "much bigger news was negative". The analyst cites the company "extending its time frame for extracting higher FedEx Express operating margins on the back of the TNT integration by at least a year" beyond the original 2020 target, attributed to the accelerating macro weakness in Europe and Asia. Paterson also believes that FedEx has "swung into recession mode" as it works to offset the macro weakness, having reduced its FY19 EPS view to $15.50-$16.60 from $17.20-$17.80.

FDX FedEx
$185.01

2.81 (1.54%)

12/12/18
COWN
12/12/18
NO CHANGE
Target $280
COWN
Outperform
FedEx margins likely to improve on y/y, q/q basis, says Cowen
Cowen analyst Helane Becker reiterated an Outperform rating and $280 price target on FedEx (FDX), telling investors in a research note that she believes margins will improve on a y/y and q/q basis, albeit at a moderately slower than expected pace. She lowered her 2Q19 earnings estimates to reflect higher purchase transportation costs and softer international pricing, but raised 2H19 estimates due to a strong peak and improving Express and Ground operations. She notes that investors are concerned Amazon (AMZN) will mitigate rising transportation costs by launching their own delivery network to compete with FedEx and its peers, but says that a new entrant will have to meaningfully ramp up its cost profile and forgo other investment opportunities to achieve the operating efficiencies of FedEx, UPS (UPS) and others.
12/12/18
FBCO
12/12/18
NO CHANGE
Target $263
FBCO
Outperform
FedEx price target lowered to $263 from $307 at Credit Suisse
Credit Suisse analyst Allison Landry lowered her price target for FedEx to $263 from $307, while reiterating an Outperform rating on the shares. The analyst believes the stock is priced for big cut to numbers following aggressive selloff.
12/10/18
12/10/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. FedEx (FDX) downgraded to Neutral from Buy at BofA/Merrill with analyst Ken Hoexter citing the board's surprise move to change its Express CEO. 2. Unilever downgraded to Underweight from Neutral at JPMorgan with analyst Celine Pannuti saying she views consensus expectations as elevated. 3. Regions Financial (RF) and KeyCorp (KEY) were downgraded to Reduce from Neutral at Nomura Instinet. 4. Qorvo (QRVO) and Skyworks (SWKS) were downgraded to Sector Weight from Overweight at KeyBanc. 5. Navistar (NAV) and Oshkosh (OSK) were downgraded to Sell from Neutral at Goldman Sachs. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/10/18
BOFA
12/10/18
DOWNGRADE
Target $200
BOFA
Neutral
FedEx downgraded to Neutral following Express CEO change at BofA/Merrill
BofA/Merrill analyst Ken Hoexter downgraded FedEx to Neutral from Buy and slashed its price target to $200 from $304 following the board's surprise move to change its Express CEO. Hoexter said this rapid change is out of character for the company and may signal a potential miss on Express operational target. The analyst lowered his forecasts and said FedEx is still struggling with its ongoing restructuring at Express, as increased costs from e-commerce impact Express and Ground segments, and believes shares could remain under pressure if the company further amends its profit target.

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