FedEx Corp. Price Target Increased to $135.00 by Analysts at Deutsche Bank (FDX)
Deutsche Bank increased their price target on shares of FedEx Corp. (NYSE:FDX) from $131.00 to $135.00 in a research note issued on Wednesday, Analyst Ratings Net reports. The firm currently has a “buy” rating on the stock. Deutsche Bank’s target price would suggest a potential upside of 9.52% from the company’s current price.
Shares of FedEx Corp. (NYSE:FDX) traded up 2.65% during mid-day trading on Wednesday, hitting $123.26. The stock had a trading volume of 4,127,599 shares. FedEx Corp. has a 52 week low of $85.15 and a 52 week high of $124.35. The stock has a 50-day moving average of $112.6 and a 200-day moving average of $103.6. The company has a market cap of $39.029 billion and a P/E ratio of 24.05.
FedEx Corp. (NYSE:FDX) last posted its quarterly earnings results on Wednesday, September 18th. The company reported $1.53 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.51 by $0.02. The company had revenue of $11.00 billion for the quarter, compared to the consensus estimate of $10.97 billion. During the same quarter in the prior year, the company posted $1.45 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. On average, analysts predict that FedEx Corp. will post $6.97 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Buckingham Research downgraded shares of FedEx Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday. They now have a $122.00 price target on the stock, up previously from $120.00. They noted that the move was a valuation call. Separately, analysts at Zacks reiterated a “neutral” rating on shares of FedEx Corp. in a research note to investors on Friday, October 4th. They now have a $119.00 price target on the stock. Finally, analysts at Stifel Nicolaus downgraded shares of FedEx Corp. from a “buy” rating to a “hold” rating in a research note to investors on Monday, September 23rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $117.04.
FedEx Corporation (NYSE:FDX) is a holding company.
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