FedEx (FDX) wowed the market with its earnings and guidance yesterday. The results were so good, in fact, that the folks at RBC Capital Markets upgraded FedEx’s shares to Buy all the way from Underperform. RBC’s John Barnes and team list three reasons for the upgrade:
1. Based on management’s tone over the past few months, we believe FedEx will be successful in re-engineering its profit improvement plan to extract a greater level of costs from the network. 2. While the growth from Ground and Freight pales in comparison to the expected increase in Express operating income. 3. The expected profit improvement at Express combined with steady growth from Ground and Freight should drive a significant improvement in FedEx’s free cash flow profile.
Source: Barron's
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FedEx: Better Growth, Bigger Dividend a Good Reason to Buy
Posted by D4L | Friday, July 04, 2014 | ArticleLinks | 0 comments »________________________________________________________________
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