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Stifel Nicolaus Downgrades FedEx

The world’s leading package delivery company, FedEx Corp. (NYSE: FDX) was downgraded by Stifel Nicolaus to a “hold” from a “buy” on Monday. Stifel pointed out that the company still expects headwinds due to slow global economic growth. In all, currently, thirteen equity analysts keep a “hold” rating on the stock; sixteen have assigned a “buy” rating while one has given a “sell rating. On average, the stock has a “buy” rating and price target of $116.00. The Company last reported quarterly results on September 18, Wednesday. Both earnings and revenue topped analysts’ consensus estimate.

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