The Goldman Sachs Group Upgrades FedEx Freight (NYSE:FDXF) to “Strong-Buy”

FedEx Freight (NYSE:FDXF) was upgraded by investment analysts at The Goldman Sachs Group to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

A number of other research firms have also recently weighed in on FDXF. Stifel Nicolaus assumed coverage on shares of FedEx Freight in a report on Thursday, June 4th. They set a “hold” rating and a $160.00 price objective on the stock. Zacks Research raised shares of FedEx Freight to a “hold” rating in a research report on Tuesday, June 2nd. Jefferies Financial Group began coverage on shares of FedEx Freight in a research note on Tuesday, June 23rd. They set a “buy” rating and a $200.00 price target on the stock. Wolfe Research started coverage on shares of FedEx Freight in a research report on Thursday, June 4th. They issued an “outperform” rating and a $180.00 price target for the company. Finally, BMO Capital Markets upped their price objective on shares of FedEx Freight from $140.00 to $150.00 and gave the company a “market perform” rating in a research note on Friday, June 26th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.12.

FedEx Freight Trading Down 3.2%

NYSE:FDXF opened at $150.76 on Wednesday. FedEx Freight has a 1 year low of $141.33 and a 1 year high of $194.27.

FedEx Freight (NYSE:FDXF) last issued its earnings results on Thursday, June 25th. The company reported $999.00 earnings per share for the quarter.

More FedEx Freight News

Here are the key news stories impacting FedEx Freight this week:

• Positive Sentiment: The $1.4 billion sale of FedEx Supply Chain could strengthen FedEx’s balance sheet and give management more flexibility to focus on core transportation operations. French shipping company CMA CGM Group to buy FedEx’ logistics arm for $1.4B
• Neutral Sentiment: Analysts are weighing the implications of the transaction and broader industrials trends, with market attention centered on how the asset sale affects FedEx’s long-term strategy. Analysts Offer Insights on Industrial Goods Companies: AeroVironment (AVAV) and FedEx Freight Holding Company (FDXF)
• Negative Sentiment: Investors may be concerned that FedEx is selling a logistics unit that could have contributed to future earnings growth, adding to uncertainty around the company’s post-sale revenue profile. FedEx Supply Chain to be acquired by global transport and logistics firm

FedEx Freight Company Profile

FedEx Freight is the less-than-truckload (LTL) freight transportation arm of FedEx, providing time-definite, regional, and interregional shipping services for commercial customers in North America. The company specializes in moving palletized freight that is too large for parcel shipment but does not require a full truckload, and it offers services designed to help businesses manage supply chain and distribution needs.

As part of the FedEx family of companies, FedEx Freight operates an extensive network of service centers and transportation routes across the United States, Canada, and Mexico.