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FedEx’s Target, Estimates Lowered at Goldman Sachs, but Still a “Buy” (FDX)

By Dividend.com,  August 17, 2012, 08:49:32 AM EDT

Package delivery giant FedEx Corporation ( FDX ) on Friday caught some tepid commentary from analysts at Goldman Sachs.

The firm maintained its "Buy" rating on FDX but cut its price target to $101, suggesting a smaller 12% upside to the stock's Thursday closing price of $88.74. Goldman also cut its earnings estimates for the company through 2015, citing expectations for slower volume growth.

FedEx shares were mostly flat in premarket trading Friday.

The Bottom Line
Shares of FedEx ( FDX ) have a .62% dividend yield, based on last night's closing stock price of $89.74. The stock has technical support in the $84-$85 price area. If the shares can firm up, we see overhead resistance around the $93-$95 price levels.

FedEx Corporation ( FDX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: FDX, FEDEX



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