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FDX

FedEx

$170.13

-0.46 (-0.27%)

07:41
01/11/19
01/11
07:41
01/11/19
07:41

FedEx bad news 'out of the way,' but remains' show me story,' says Credit Suisse

After FedEx met with a group of analysts this week to explain the retraction of its $1.2B-$1.5B Express operating improvement target and the reduction in FY19 a few weeks ago, Credit Suisse analyst Allison Landry said that the bad news is now out of the way for FedEx and appears to be priced in, but tells investors in a research note that the company remains a "show me story" and has its work cut out for itself to regain investor confidence. The analyst, who maintains an Outperform rating, says regaining confidence will likely require consistent execution for "at least the next couple of quarters," no further CapEx surprises and evidence that it "has a handle on costs" at Express.

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FDX FedEx
$170.13

-0.46 (-0.27%)

12/21/18
MSCO
12/21/18
NO CHANGE
Target $156
MSCO
Equal Weight
FedEx price target lowered to $156 from $230 at Morgan Stanley
Morgan Stanley analyst Ravi Shanker said the bull case narrative on FedEx for the past three years has been "20/20/20," meaning $20 in EPS by FY20 at a 20x P/E multiple. However, with those targets now pulled, investors may have a hard time figuring out what normalized EPS really is following the sharp cuts to its FY19 outlook, Shanker tells investors. Following the company's earnings report and guidance, Shanker cut his FY19, FY20 and FY21 estimates including TNT integration costs by 4%, 12% and 12%, respectively, and lowered his price target on FedEx shares to $156 from $230. He keeps an Equal Weight rating on the stock.
12/21/18
ARGS
12/21/18
NO CHANGE
Target $190
ARGS
Buy
Argus cuts FedEx target to $190, but calls weakness a buying opportunity
Argus analyst John Eade said that investors are unlikely to assign high multiples to FedEx's earnings until the outlook for global economic growth improves and he lowered his price target on the stock to $190 from $290 following the company's FY19 outlook cut. However, he looks for stronger growth in FY20 as management's cost-reduction actions take hold and calls the recent weakness a buying opportunity. Eade, who sees FedEx shares as attractively valued at current prices near $162, keeps a Buy rating on the stock.
12/27/18
12/27/18
NO CHANGE

Stephens to keep GrubHub, RealPage, Vulcan Materials on 2019 Best Ideas list
Stephens said that it plans to publish a complete updated 2019 Best Ideas list on January 2, but in anticipation it shared the names that are being dropped and the three stocks that will remain on the list. The holdovers are GrubHub (GRUB), RealPage (RP) and Vulcan Materials (VMC). The stocks being removed include Boston Scientific (BSX), Brookdale Senior Living (BKD), Conn's (CONN), CoStar Group (CSGP), Curo Group (CURO), FedEx (FDX), First Financial Bancorp (FFBC), Graphic Packaging (GPK), Hub Group (HUBG), Keane Group (FRAC), KeyCorp (KEY), LKQ Corp. (LKQ), Myriad Genetics (MYGN), SVB Financial (SIVB), Triumph Bancorp (TBK), TrueCar (TRUE) and Union Bankshares (UBSH).
01/10/19
OPCO
01/10/19
NO CHANGE
Target $200
OPCO
Outperform
FedEx price target lowered to $200 from $234 at Oppenheimer
Oppenheimer analyst Scott Schneeberger lowered his price target for FedEx to $200 from $234, while reiterating an Outperform rating on the shares. The analyst notes that FedEx has recently reduced its FY19 Express segment outlook, primarily on international macro conditions/TNT integration challenges post that sizable acquisition's June 2017 cyberattack. Domestically, FedEx has not yet encountered indications of economic softness and expressed expectations of continued margin improvement in its Ground and Freight segments, he adds. While FedEx "needs to demonstrate operational/financial improvement in its Express segment," Schneeberger views the stock's substantial selloff as overdone.

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Sanofi

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Raytheon

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