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Monday, September 29, 2014

Cowen Increased FedEx Target to $210 With Outperform Rating

Today Cowen and Company upgraded FedEx (FDX Charts & Current Quote) to "Outperform." Cowen raised their target for FDX to $210 from their prior target of $155.

Today is FedEx's Annual Shareholders Meeting which began at 8AM, CST. You can view a webcast of the meeting here.

A Briefing.com report on Schwab's site says Cowen expects FedEx to "announce a new share purchase program and potentially increase the dividend at today's annual meeting."

In "FedEx Upgraded by Cowen and Company to “Outperform" Ticker Report adds:
  • Analysts at Wolfe Research upgraded shares of FedEx from a “market perform” rating to an “outperform” rating in a research note on Thursday, September 18th. 
  • Separately, analysts at Macquarie reiterated an “outperform” rating on shares of FedEx in a research note on Thursday, September 18th. They now have a $184.00 price target on the stock, up previously from $160.00. 
  • Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of FedEx in a research note on Thursday, September 18th. They now have a $179.00 price target on the stock, up previously from $178.00. 
  • Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. 
  • The stock presently has a consensus rating of “Buy” and a consensus price target of $159.33.
Currently, FDX is trading at $162.  $210 is  30% or $48 higher.
 FedEx Charts and Price Quote
Disclosure:  I am long FDX.  Also, FDX was one of the core stocks that I started my newsletter Explore Portfolio with on September 1998 when it was only $22.50.   My belief back then that continues today is FedEx will benefit greatly from people and businesses ordering goods on the internet.

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