FedEx could narrow its gap with UPS as the company keeps emphasizing ground shipping, according to Atlantic Equities.
It's time to buy shares of shipping giant FedEx as the company narrows its valuation gap against rival UPS, according to Atlantic Equities. The firm initiated coverage of FedEx with an overweight rating and a $265 per share price target. That equates to about 20% upside from the stock's $221.08 close on Monday. "FedEx through its cost reduction programs, is shifting to a flexible, margin enhancing, ground focused integrated network.
Although we regard UPS highly, we believe it has over earned during COVID and expect its financial performance to mean revert." The analyst also noted that, because current Wall Street estimates are below fiscal year 2026 targets presented by FedEx executives, investors are discounting the likelihood that these targets will be reached. He thinks it's more than likely that those expectations will be met.
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