Goldman Sachs analyst Jordan Alliger has maintained their bullish stance on FDX stock, giving a Buy rating on May 14.
Jordan Alliger has given his Buy rating due to a combination of factors that indicate a positive outlook for FedEx. Despite reducing the financial forecast for fiscal year 2025 to account for a slower-than-expected recovery in freight and parcel volumes, Alliger maintains confidence in the company’s potential. The anticipated rebound in market conditions is expected to leverage FedEx’s recovery, underpinning the Buy rating. Furthermore, the company’s earnings per share (EPS) estimates for the fourth quarter of fiscal year 2024 remain unchanged, reinforcing the belief in FedEx’s stability during this period.
Additionally, Alliger’s analysis factors in the implications of the United States Postal Service (USPS) contract transitioning to UPS in late September. He suggests that while there may be a timing mismatch that could affect revenue and cost dynamics in the short term, the overall perspective remains positive for FedEx. This forward-looking approach, coupled with minor adjustments in the company’s earnings projections, supports the Buy recommendation as FedEx navigates these changes and capitalizes on the anticipated economic recovery.
Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FDX in relation to earlier this year.
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FedEx (FDX) Company Description:
Founded in 1971, FedEx Corp. is a multinational delivery services company based in Tennessee. It provides transportation, e-commerce, and business services worldwide. The company offers integrated business solutions through operating companies competing collectively, operating collaboratively and innovating digitally under the FedEx brand.
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