FedEx shares have more room to run, according to Stephens analyst Jack Atkins. He’s calling it his best idea and has 10 reasons why.
FedEx stock has more room to run, according to Stephens analyst Jack Atkins. He named the logistics giant his best idea and raised his target price to $215 a share from $180.
Atkins expects performance at TNT—the FedEx acquisition announced in 2015—to improve, and he expects FedEx to spend less cash on capital in coming years. TNT improvement generates more cash flow and less spending frees it up for dividends and stock repurchases. Postal reform—there is a new postmaster general—could also help industry pricing. That’s cited as well.
The setup wasn’t always looking as rosy in recent years. FedEx stock fell roughly 35% in 2018 and 6% in 2019. TNT acquisition woes and growing e-commerce shipping competition hit shares. That, according to Atkins, is in the past.
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