Deutsche Bank Positive On FedEx Going Into Earnings

Deutsche Bank has a Buy rating and a $133 price target on shares of FedEx FDX as it previews the company's earnings. In a note to investors, Deutsche Bank writes, "We see a positive risk/reward heading into FDX's FQ4 earnings on Wed. with shares trading at just 13.6x our FY2012 EPS estimate of $6.42. We expect FDX's earnings to be relatively inline with Consensus given stable volumes and solid pricing trends as well as improved profitability at FedEx Freight. Given these positive undercurrents, we expect FDX's FY12 outlook to ease jittery investors and provide a positive catalyst for the shares. Accordingly, we reiterate our BUY rating." Shares of FDX gained 51 cents yesterday to close at $87.50, a gain of 0.59%.