Sterne Agee Reiterates “Buy” Rating on FedEx (FDX)

Ahead of FedEx Corporation’s (FDX) third quarter earnings report, analysts at Sterne Agee reiterated a bullish rating on the transportation company.

FedEx will report its third quarter earnings before the bell on Wednesday. The analysts maintain a “Buy” on FDX and see shares reaching $115. This target suggests a 7% upside to Monday’s closing price of $107.29.

Sterne Agee reported that, “FDX will report its Fiscal 3Q13 EPS tomorrow pre-market with a conference call at 8:30am EDT. This will be a figure that won’t matter as much to investors given the transition period that 2013 represents; how much in retirement and realignment costs to expect could surprise either way. Our point being, it’s more the progress on restructuring and status of improvement in markets heading into Fiscal 2014 this summer that will be the focus of investors.”

FedEx shares were up slightly during morning trading on Tuesday. The stock is up +13.37% over the past twelve months.

The Bottom Line
Shares of FedEx (FDX) have a dividend yield of 0.52% based on Tuesday’s intraday trading price of $107.88 and the company’s annualized dividend payout of 56 cents per share.

FedEx Corporation (FDX) is not recommended at this time, holding a 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.

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