FedEx (FDX) Gets a Buy Rating from Cowen & Co.

In a report released yesterday, Helane Becker from Cowen & Co. maintained a Buy rating on FedEx (FDXResearch Report), with a price target of $237. The company’s shares closed yesterday at $179.08.

According to, Becker is a top 100 analyst with an average return of 19.4% and a 69.1% success rate. Becker covers the Services sector, focusing on stocks such as Allegiant Travel Company, WestJet Airlines Ltd, and Southwest Airlines.

Currently, the analyst consensus on FedEx is a Strong Buy with an average price target of $215.53, a 20.4% upside from current levels. In a report issued on March 7, Citigroup also maintained a Buy rating on the stock with a $210 price target.

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Based on FedEx’s latest earnings release for the quarter ending November 30, the company reported a quarterly revenue of $17.82 billion and net profit of $933 million. In comparison, last year the company earned revenue of $16.53 billion and had a net profit of $2.07 billion.

Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FDX in relation to earlier this year. Last month, John Merino, the CVP PRIN ACCT OFFICER of FDX sold 2,300 shares for a total of $419,152.

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FedEx Corp. engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, TNT Express, FedEx Ground, FedEx Freight, FedEx Services, and Other. The FedEx Express segment consists of domestic and international shipping services for delivery of packages, and freight.

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