» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 128 | NO. 142 | Tuesday, July 23, 2013

Wunderlich Securities Begins Coverage of FedEx

By Andy Meek

Print | Front Page | Email this story | Email reporter | Comments ()

Wunderlich Securities Inc. has added FedEx Corp. to its stock coverage universe, initiating coverage of the package shipping giant with a “buy” rating and a $120 price target.

According to Wunderlich, FedEx is well-positioned to benefit from long-term trends like increased global sourcing and selling, more sophisticated supply chain management and growth in e-commerce.

“While slow global growth, yield pressure from overcapacity, and international services trade-down remain near-term headwinds, we expect internal initiatives will drive substantial margin improvement and (earnings per share) leverage at (FedEx) Express and Freight over the next two to three years,” Wunderlich writes in the firm’s first comments about the company. “(FedEx) has a successful history of flexing its portfolio of networks to meet market conditions. We are confident that management’s strategic plan will result in reaching its goals.”

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog Get more from The Daily News
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 72 206 16,619
MORTGAGES 84 228 21,660
FORECLOSURE NOTICES 21 56 4,322
BUILDING PERMITS 0 209 39,587
BANKRUPTCIES 73 222 15,764
BUSINESS LICENSES 23 51 5,542
UTILITY CONNECTIONS 86 287 23,860
MARRIAGE LICENSES 21 72 5,107

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.