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FedEx’s Estimates Cut at Citigroup; Expects Lowered Guidance Next Week (FDX)

Package delivery giant FedEx Corporation ( FDX ) on Thursday saw its earnings estimates lowered by analysts at Citigroup.

The firm said it cut its estimates for FDX through 2012, citing expectations for lowered guidance next week. The company is slated to deliver its latest earnings report on June 22.

Still, Citigroup maintained its "Buy" rating and $110 price target for FDX, which suggests a healthy 27% upside to the stock's Wednesday closing price of $86.49.

FedEx shares were mostly flat in premarket trading Thursday.

The Bottom Line

Shares of FedEx ( FDX ) have a .60% dividend yield, based on last night's closing stock price of $86.49. The stock has technical support in the $78-$80 price area. If the shares can firm up, we see overhead resistance around the $90-$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 Nasdaq, Inc.

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

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