Deutsche Bank Maintains Buy Rating and $133 PT On FDX

In a report by Deutsche Bank, although the EPS estimate has been lowered, FedEx's FDX Price Target and Rating have remained unchanged.

In the report Deutsche Bank writes, “FDX remains Buy-rated as we continue to see strong earnings upside in FY2012 as near-term cost headwinds moderate. While we have tempered our FY2011 EPS estimates by 7% to $4.59, our FY2012-13 EPS estimates were tempered by 2-3% to $6.39 and $8.40, respectively. Our $133 PT is based on an unchanged 18x P/E multiple applied to our CY2012 EPS estimate of $7.40. Risks include rising fuel prices, FedEx Freight restructuring, and global macro-recovery.”

FedEx closed at $90.71 on Friday. FedEx has a Price Target of $133.00 and has a Buy Rating.