Yahoo Finance published this video item, entitled “Analyst discusses Outperform rating on FedEx as company seeks to restructure ground delivery in 2024” – below is their description.
FedEx (FDX) stock is trading lower following a second-quarter earnings miss reported by the freight operator on Tuesday. Despite this, investors remain optimistic, including TD Cowen Senior Research Analyst Helane Becker spoke with Yahoo Finance Brad Smith and Josh Schafer about why she maintains an “Outperform” rating on the stock.
“For them — and this is the reason for our optimism — it’s really about a multi-year program to get costs down, to shift away from the old narrative of ‘operate independently, but compete collectively,'” Becker tells Yahoo Finance, highlight FedEx’s cost-saving strategy and restructuring its delivery fleets
While remaining optimistic, Becker does note to Yahoo Finance that the first half of 2024 will be “really tough.”
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