FedEx: shares down as UBS downgrades on TNT issues.
(CercleFinance.com) - FedEx shares were slightly down on Friday after UBS downgraded the US package delivery company from "buy" to "neutral," saying issues at its TNT unit reduce visibility.
"The TNT issues reduce our conviction in FDX's ability to deliver 10%-15% EPS growth in fiscal years 2018 and 2019," UBS analysts said in a report sent to clients.
The broker - which has trimmed its target price from 235 dollars drops to 233 dollars - said has it downgraded the stock to "neutral," as reward/risk appears "roughly balanced in the near term."
Fedex shares are currently 0.2% at 214 dollars in early morning trading on Wall Street.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"The TNT issues reduce our conviction in FDX's ability to deliver 10%-15% EPS growth in fiscal years 2018 and 2019," UBS analysts said in a report sent to clients.
The broker - which has trimmed its target price from 235 dollars drops to 233 dollars - said has it downgraded the stock to "neutral," as reward/risk appears "roughly balanced in the near term."
Fedex shares are currently 0.2% at 214 dollars in early morning trading on Wall Street.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.