FedEx Analyst Meeting Kicks Off Well

FedEx's FDX analyst meetings kicked off this morning on a positive note. It began with a presentation by one of FedEx's economists, outlining the company view that this recovery is well on track. Sterne Agee concurs with the views of the economist, in that this recovery is on a healthy path similar to previous recoveries, and we believe that the transition from government stimulus to corporate hiring is progressing well and is normally accompanied with a slower year of “transitional” growth. Sterne Agee says regulatory risk has been reduced in terms of potential negative 2010 events; the restructuring at Freight is well planned, and the industry's interest in pushing other competition out is secondary to improving margins; and the Express and Ground divisions are seeing improved business levels and pricing. Sterne expects shares to react positively to the meeting results. FDX shares are at $84.13
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorAnalyst RatingsAir Freight & LogisticsIndustrialsSterne Agee
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!