The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.
FedEx is trading at $151.93. The stock is up 7.4% since it announced its fourth-quarter results for 2014 in June, in which both the revenue and EPS doubled on the year and exceeded estimates.
Equity analysts are bullish on FedEx. Out of the 31 recommendations, 14 are buys, 16 are holds and only one is a sell.
Cost-cutting is likely to continue, with the focus being on trimming its Asian business in order to profit growth.
The stock has held onto the gains that were made on the back of the strong fourth-quarter earnings in June. For the past month the share price has been trading with a tight range of $148 and $152; if it drops below $148 the next level down is $145.92. If FedEx exceeds estimates it could clear the all-time high of $153.99 and target $155.