FedEx Now Rated a “Buy” at Stifel Nicolaus (FDX)

Filed in dividend, Gold, Gold Investment, shares, upgrade by on May 20, 2010 0 Comments

Package delivery powerhouse FedEx Corporation ( FDX ) saw its rating and price target boosted on Thursday by analysts at Stifel Nicolaus. The firm raised its rating on FDX to “Buy” from “Hold” while boosting its price target on the stock to $102. FedEx shares had closed at $84.09 on Wednesday. Stifel Nicolaus cited the company’s attractive valuation and operating leverage potential for the upgrade. FedEx shares fell $1.84, or -2.2%, in premarket trading Thursday. The Bottom Line Shares of FDX have a dividend yield of .52%, based on last night’s closing stock price of $84.09. The stock has technical support in the $77-$80 price area. If the shares can firm up, we see overhead resistance around the $90 price level. We would remain on the sidelines for now. 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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FedEx Now Rated a “Buy” at Stifel Nicolaus (FDX)

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