MorganStanley analyst Ravi Shanker maintained a Hold rating on FedEx (FDX – Research Report) today and set a price target of $215.00. The company’s shares closed last Friday at $298.77.
FedEx Corp. warned its business would slow in the year ahead and reported a worse-than-expected quarterly profit in an ominous sign about the direction of the US economy.
Ideally the Fed will cut rates by a half-point without triggering growth worries, MorganStanley says. CIO Mike Wilson noted that the bond market is acting like the Fed is behind the curve.
Read more: Amazon posing a threat to FedEx is a 'fantastical' idea, CEO said - but the reality is much more complicated MorganStanley analysts wrote in the January 7 note that Amazon's plan ...