J.P. Morgan analyst Brian Ossenbeck has maintained their bullish stance on FDX stock, giving a Buy rating today.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Brian Ossenbeck has given his Buy rating due to a combination of factors that suggest FedEx is well-positioned for future growth. The appointment of John A. Smith as CEO of FedEx Freight, despite being viewed as a missed opportunity to bring in an outsider, is seen as a strategic move. Smith’s extensive experience within FedEx, particularly his previous role as CEO of FedEx Freight, is expected to help navigate the spin-off from Federal Express Corp, ensuring continuity and stability.
Moreover, FedEx Freight has demonstrated strong operational performance, boasting the second-best operating ratio among its public peers over the last four quarters. While there are concerns about customer-facing metrics and the integration of Network 2.0, these are not expected to significantly impact the company’s trajectory. The anticipation of more details in the upcoming earnings call further supports the positive outlook, reinforcing the Buy rating.
In another report released today, UBS also maintained a Buy rating on the stock with a $331.00 price target.
FDX’s price has also changed moderately for the past six months – from $293.060 to $226.120, which is a -22.84% drop .
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue