The company is about to spin off its freight business.
In the closing of the recent trading day, FedEx (FDX) stood at $400, denoting a +1.47% move from the preceding trading day.
UBS is sticking with a Buy rating on FedEx Corp (NYSE:FDX, XETRA:FDX) and a price target of $445, as the company gets ready to spin off its freight business into a standalone stock next week. The freight unit, set to trade under the ticker FDXF, enters when-issued trading on May 27, with regular trading kicking off June 1.
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FedEx (FDX) closed at $374.97 in the latest trading session, marking a +1.42% move from the prior day.
FDX plans to spin off its freight unit as FDXF on June 1, aiming to unlock value and sharpen its focus on parcel delivery and LTL markets.
In the latest trading session, FedEx (FDX) closed at $369.7, marking a -1.79% move from the previous day.
The CEO of FedEx says Amazon's new supply chain service is no threat to his company. “Last week's announcement versus what FedEx operates is completely different,” Raj Subramaniam told CNBC's Jim Cramer during a Tuesday (May 12) edition of the “Mad Money” program.
Bank of America has added FedEx (NYSE:FDX | FDX Price Prediction) to its “US 1 List,” a collection of its best investment ideas.
FedEx (FDX) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices.
Here is how FedEx (FDX) and Seanergy Maritime Holdings Corp (SHIP) have performed compared to their sector so far this year.
FedEx and UPS shares are falling, but one analyst isn't sure that Amazon's new service will have a significantly disruptive effect.