FDX) traded slightly higher on Friday after one analyst raised his price target for the stock ahead of the company’s earnings report later this month.
Aug. 20, said FedEx’s plan to hire 70,000 seasonal workers ahead of peak delivery season represents a 27% increase compared to a year ago and suggests strong volume trends heading into the second half of the year.” data-reactid=”21″>The Thesis: Hoexter, who previously raised his price target from $177 to $235 on Aug. 20, said FedEx’s plan to hire 70,000 seasonal workers ahead of peak delivery season represents a 27% increase compared to a year ago and suggests strong volume trends heading into the second half of the year.
UPS), which only offers limited Sunday delivery via SmartPost.
“With increased B2C demand and conversion of a portion of Express deliveries into its Ground network, we target Ground deliveries to increase 15% y-y in F1Q (following a 25% gain in F4Q) & Ground margins to expand 20 bps sequentially, as June 1 COVID surcharges are offset by higher cost residential delivery,” Hoexter wrote in the note.
WMT) in aggressively pushing for same-day delivery services in the coming years.
BofA Raises FedEx Expectations, Sees Improving Airfreight Price Environment ” data-reactid=”31″>BofA Raises FedEx Expectations, Sees Improving Airfreight Price Environment
Latest Ratings for FDX
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Sep 2020 | Berenberg | Upgrades | Hold | Buy |
| Aug 2020 | Citigroup | Maintains | Buy | |
| Aug 2020 | Bernstein | Upgrades | Market Perform | Outperform |
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