FedEx Crushes Earnings as Revenues Soar From Stay Home Economy and Bargain Fuel Prices

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  • #24030
    ThePitBoss
    Participant

    FedEx reported a huge beat in second quarter…

    [article]2117[/article]

    #24039
    ThePitBoss
    Participant

    FedEx upgraded to Overweight after earnings beat at JPMorgan

    JPMorgan analyst Brian Ossenbeck upgraded FedEx to Overweight from Neutral with a price target of $188, up from $145.

    The company last night posted a “solid” earnings beat in tough conditions while the investment thesis is simplified for an economic recovery without fiscal 2021 guidance, Ossenbeck tells investors in a research note. Ground’s margin gains appear supported by structural initiatives over the last year and Express weathered the collapse in business-to-business better than expected, says the analyst.

    #25803
    Truman
    Participant

    FedEx (FDX) was added, Norfolk Southern (NSC) removed from JP Morgan’s Analyst Focus List; FDX was added based on its multi-year growth potential at an attractive valuation, supported by industry pricing power and the TNT integration.

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