Goldman Sachs Maintains Neutral on FedEx (FDX)

Goldman Sachs is out with its report today on FedEx FDX, maintaining Neutral.

In a note to clients, Goldman Sachs writes, "FDX reported ongoing F3Q11 EPS (Feb end) of $0.81 vs. GS $0.85, consensus $0.82 and recent downwardly revised guidance of $0.70-$0.90. Higher sales were more than offset by lower margins. The company offered fiscal 4Q guidance of $1.66-$1.83 versus GS $1.77 and
consensus $1.66. We believe low investor expectations and higher targets should boost the stock."

At the time of posting, shares of FDX were trading at $88.94, up 4.29% from Wednesday's close.