The investment firm set a target price of $182 per share for FedEx Corp., a premium of nearly 22 percent on the stock’s closing price yesterday.
Goldman Sachs has set a “buy” rating for stock in FedEx Corp. despite recent reports of holiday shipment delays and the stock’s poor performance in 2015.
The investment firm set a target price of $182 per share for FedEx, a premium of nearly 21.95 percent on the stock’s closing price of $149.24 yesterday.
The parcel delivery company struggled to deliver all of its orders by Christmas due to record online shopping volumes and winter weather in the Midwestern United States. Thanks to broader economic concerns that have caused growth to stagnate across the shipping and logistics industry, shares in FedEx are down 14.9 percent year-to-date, from a closing price of $175.52 on Dec. 29, 2014.
FedEx shares have fallen an additional 0.41 percent to $148.63 in early market trading today.
Goldman Sachs rates FedEx stock a ‘buy’ despite recent troubles
