FedEx on Thursday unveiled several measures it has undertaken to enhance its residential coverage ahead of peak holiday shopping season to better serve the growing needs of e-commerce customers.
FDX) revealed that it will expand Ground’s Sunday residential deliveries to approximately 95% of the US population, effective September 13. The courier giant’s Saturday residential shipping already covers nearly 96% of the population. Also, the company will now allow shippers to deliver packages as heavy as 150 pounds.” data-reactid=”13″>FedEx (FDX) revealed that it will expand Ground’s Sunday residential deliveries to approximately 95% of the US population, effective September 13. The courier giant’s Saturday residential shipping already covers nearly 96% of the population. Also, the company will now allow shippers to deliver packages as heavy as 150 pounds.
See FDX stock analysis on TipRanks).” data-reactid=”14″>Additionally, the company stated that it has increased capacity through investing in facilities across the network. With these investments, FedEx has opened four new automated stations, eight new or expanded large package facilities, and the expansion of over 50 existing facilities. (See FDX stock analysis on TipRanks).
Jordan Alliger raised the stock’s price target to $223 (1% upside potential) from $169 and reiterated a Conviction Buy rating. Alliger expects faster than previously expected recovery in margins for FedEx and for the company to witness better pricing dynamics over the long run.” data-reactid=”19″>On August 21, Goldman Sachs analyst Jordan Alliger raised the stock’s price target to $223 (1% upside potential) from $169 and reiterated a Conviction Buy rating. Alliger expects faster than previously expected recovery in margins for FedEx and for the company to witness better pricing dynamics over the long run.
price target of $189.32 implies a downside potential of 14.3% to current levels.” data-reactid=”20″>Currently, the Street has a cautiously optimistic outlook on the stock. The Moderate Buy analyst consensus is based on 15 Buys and 8 Holds. With shares up 46.1% year-to-date, the average price target of $189.32 implies a downside potential of 14.3% to current levels.
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