FedEx Freight (NYSE:FDXF) Now Covered by Analysts at Wolfe Research

Equities researchers at Wolfe Research started coverage on shares of FedEx Freight (NYSE:FDXF) in a note issued to investors on Thursday, Marketbeat reports. The firm set an “outperform” rating and a $180.00 price target on the stock. Wolfe Research’s target price indicates a potential upside of 14.33% from the company’s previous close.

A number of other research analysts have also recently issued reports on the company. Zacks Research raised FedEx Freight to a “hold” rating in a research note on Tuesday. Raymond James Financial initiated coverage on FedEx Freight in a research report on Wednesday. They issued an “outperform” rating and a $180.00 price objective for the company. Bank of America began coverage on FedEx Freight in a research note on Monday. They set a “buy” rating and a $185.00 target price for the company. Evercore initiated coverage on shares of FedEx Freight in a research note on Thursday. They issued an “outperform” rating and a $168.00 price target on the stock. Finally, Truist Financial initiated coverage on shares of FedEx Freight in a report on Tuesday. They issued a “hold” rating for the company. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $178.25.

FedEx Freight Price Performance

Shares of NYSE FDXF traded up $5.44 during midday trading on Thursday, reaching $157.44. 91,995 shares of the stock were exchanged, compared to its average volume of 3,028,821. FedEx Freight has a 12 month low of $141.33 and a 12 month high of $166.90.

FedEx Freight News Roundup

Here are the key news stories impacting FedEx Freight this week:

• Positive Sentiment: Bank of America initiated coverage on FedEx Freight with a Buy rating and a $185 price target, citing margin expansion potential for the newly independent LTL carrier.
• Positive Sentiment: Market commentary has been constructive on the spin-off, with analysts and media noting that FedEx Freight could be a “true winner” as an independent business with greater strategic focus. Why Jim Cramer says newly public FedEx Freight stock could be a ‘true winner’
• Positive Sentiment: FedEx Freight officially began trading independently after the spin-off from FedEx, a move that some coverage says could unlock value and improve returns for the business and its parent company. FedEx completes freight spin-off as independent LTL carrier
• Positive Sentiment: Zacks Research upgraded FedEx Freight to Hold, adding another mildly supportive signal following the debut as a standalone company.
• Neutral Sentiment: Several articles highlighted operational and leadership background at the company, including its CTO’s work building the IT team and the CEO’s plan for leading the “$9B startup,” but these are more informational than immediate stock catalysts.
• Negative Sentiment: Some coverage flagged execution risk for the newly independent company, noting it must prove it can compete on its own and faces competitive pressure, including a potential threat from Amazon’s logistics network.

FedEx Freight is the less-than-truckload (LTL) freight transportation arm of FedEx, providing regional and national shipping services for businesses across the United States, Canada, and Mexico. The company specializes in handling palletized and bulky shipments that are too large for parcel carriers but do not require full truckload service.

Its services include standard and priority freight shipping, time-definite delivery options, and related logistics support designed to help customers move goods efficiently across short- and long-haul routes.