FedEx Freight (NYSE:FDXF) Upgraded to “Strong-Buy” at Evercore

Evercore upgraded shares of FedEx Freight (NYSE:FDXF) to a strong-buy rating in a research report report published on Thursday morning,Zacks.com reports.

A number of other research firms have also recently weighed in on FDXF. Truist Financial began coverage on shares of FedEx Freight in a research note on Tuesday. They set a “hold” rating and a $155.00 target price on the stock. Stifel Nicolaus set a $160.00 target price on shares of FedEx Freight in a research note on Thursday. Bank of America initiated coverage on shares of FedEx Freight in a report on Monday. They set a “buy” rating and a $185.00 price target on the stock. Zacks Research upgraded shares of FedEx Freight to a “hold” rating in a report on Tuesday. Finally, Wolfe Research initiated coverage on shares of FedEx Freight in a report on Thursday. They set an “outperform” rating and a $180.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, FedEx Freight currently has an average rating of “Moderate Buy” and an average target price of $171.33.

FedEx Freight Price Performance

NYSE FDXF opened at $158.77 on Thursday. FedEx Freight has a fifty-two week low of $141.33 and a fifty-two week high of $166.90.

Key Stories Impacting FedEx Freight

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

• Positive Sentiment: Wolfe Research initiated coverage on FedEx Freight Hldg Co (FDXF) with an outperform rating and a $180 price target, implying meaningful upside from current levels. Cramer’s stop trading: FedEx Freight Holding Company
• Positive Sentiment: Several articles framed the newly independent company as a potential winner, noting that the spinout could unlock value and give management a clearer path to improve growth and margins. FedEx Freight now an independent company
• Positive Sentiment: Jim Cramer also sounded constructive on the stock, calling the newly public FedEx Freight a possible “true winner,” which is adding to bullish sentiment around the debut. Why Jim Cramer says newly public FedEx Freight stock could be a ‘true winner’
• Neutral Sentiment: Zacks Research upgraded FDXF to hold, which suggests the stock is no longer viewed as a sell but does not signal strong conviction for further near-term gains. Zacks.com
• Neutral Sentiment: Coverage around the spinout highlighted that FedEx Freight is now operating independently and must prove it can win on its own, with some commentary pointing to competitive pressure from Amazon as a key risk.
• Neutral Sentiment: Other recent stories focused on the leadership team, the company’s IT buildout, and the pre-spin dividend to the parent, which are informative but less likely to drive immediate trading on their own.

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.