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FDX

FedEx

$185.01

2.81 (1.54%)

09:20
12/19/18
12/19
09:20
12/19/18
09:20

Technical Take: FedEx drops after results to new 52-week low

The stock was last at $169.81 in early trading, following on a weaker than expected earnings report last night after the close. At that price next support is at $167.15. Resistance is at the $172.50 area.

FDX FedEx
$185.01

2.81 (1.54%)

12/19/18
COWN
12/19/18
NO CHANGE
Target $242
COWN
Outperform
FedEx price target lowered to $242 from $280 at Cowen
Cowen analyst Helane Becker lowered her price target on FedEx to $242 from $280 and she expects the shares to remain under pressure following Q2 results. She noted the company cited global macro concerns, including a weakening in Europe and China, and is taking steps by reducing capacity, cutting costs, and raising rates. Becker maintained her Outperform rating on FedEx shares.
12/19/18
OPCO
12/19/18
NO CHANGE
Target $234
OPCO
Outperform
FedEx price target lowered to $234 from $288 at Oppenheimer
Oppenheimer analyst Scott Schneeberger lowered his price target for FedEx to $234 from $288 following quarterly results. The analyst notes that peak appears "strong," but adds that guidance was reduced largely on slowing global trade outlook. He reiterates an Outperform rating on the shares.
12/19/18
MSCO
12/19/18
NO CHANGE
MSCO
Equal Weight
FedEx guidance cut expected, magnitude worse than expected, says Morgan Stanley
Morgan Stanley analyst Ravi Shanker noted that he had previewed a miss and guidance cut coming from FedEx, but the magnitude of the reduction was much bigger than he expected. He points out that his $16.61 EPS estimate for FY19 was 3.5% below the low end of the previous range, but is now slightly above the high end of the company's new range. Shanker recognizes that global growth has slowed, but he was "very surprised" by the magnitude of this headwind, adding that he believes global growth concerns are likely to get worse before they get better next year. The analyst, whose model and price target are under review, keeps an Equal Weight rating on FedEx shares.
12/19/18
BMOC
12/19/18
NO CHANGE
Target $245
BMOC
Outperform
FedEx price target lowered to $245 from $270 at BMO Capital
BMO Capital analyst Fadi Chamoun lowered his price target on FedEx to $245 after its Q2 earnings and guidance cut yesterday evening, saying that the "impact of slowing global growth on Express results" is "sharper than anticipated". The analyst contends that a "serious" recovery in FedEx stock price is unlikely in the near term following a reset in earnings expectations and the growing macro uncertainty. Chamoun keeps his Outperform rating on the shares longer term however, noting that valuation is "compelling at current levels" and believes that the investments FedEx made in its Ground business are "starting to pay off."

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