The firm initiated coverage of transportation and logistics companies with strong management teams and solid balance sheets.
It's time to buy shares of FedEx and United Parcel Service, which are attractive opportunities for investors after their recent stock tumbles, according to Credit Suisse. Analyst Ariel Rosa reiterated outperform ratings on FedEx and UPS, among others, while initiating coverage of 18 transportation and logistics companies. The analyst focused on quality companies with strong management teams and solid balance sheets, according to a Monday note.
"We see potential upside to consensus EPS as FDX shifts its focus to revenue quality and nears the completion of its integration of TNT Express, which should help boost margins." The analyst raised the company's 12-month target price to $314 from $294. The new target represents roughly 30% upside than Monday's closing price. Shares of UPS are at an "attractive entry point" after falling 22% off their highs, according to Credit Suisse.
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