Credit: Shutterstock photoPackage delivery giant FedEx Corporation ( FDX ) on Wednesday saw its price target and earnings estimates lowered by analysts at UBS.
The firm said it cut its estimates for FDX through 2012, citing concerns over higher fuel costs.
It also lowered its price target for FDX to $101, which still implies a 15% upside to the stock's Tuesday closing price of $87.79, but left its "Buy" rating unchanged.
FedEx shares rose $1.55, or +1.8%, in premarket trading Wednesday.
The Bottom Line
Shares of FedEx ( FDX ) have a .55% dividend yield, based on last night's closing stock price of $87.79. The stock has technical support in the $82-$85 price area. If the shares can firm up, we see overhead resistance around the $90-$91 price levels.
FedEx Corporation ( FDX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 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.