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FedEx (FDX) Gets a Buy Rating from Credit Suisse

Credit Suisse analyst Ariel Rosa maintained a Buy rating on FedEx (FDXResearch Report) today and set a price target of $314.00. The company’s shares closed last Thursday at $229.94.

According to TipRanks.com, Rosa is a 4-star analyst with an average return of 15.2% and a 56.0% success rate. Rosa covers the Industrial Goods sector, focusing on stocks such as Canadian National Railway, Knight Transportation, and Old Dominion Freight.

Currently, the analyst consensus on FedEx is a Strong Buy with an average price target of $297.32, a 29.2% upside from current levels. In a report issued on June 30, Citigroup also maintained a Buy rating on the stock with a $270.00 price target.

See today’s best-performing stocks on TipRanks >>

Based on FedEx’s latest earnings release for the quarter ending May 31, the company reported a quarterly revenue of $24.39 billion and net profit of $558 million. In comparison, last year the company earned revenue of $22.57 billion and had a net profit of $1.87 billion.

Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FDX in relation to earlier this year. Most recently, in May 2022, Frederick W. Smith, the Chairman of FDX bought 198,675 shares for a total of $16,937,044.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Founded in 1971, FedEx Corp. is a multinational delivery services company based in Tennessee. It provides transportation, e-commerce, and business services worldwide. The company offers integrated business solutions through operating companies competing collectively, operating collaboratively and innovating digitally under the FedEx brand.

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