There’s a lot to be optimistic about in the Conglomerates sector as 2 analysts just weighed in on FedEx (FDX) and Southwest Airlines (LUV) with bullish sentiments.
FedEx (FDX)
In a report issued on June 8, Garrett Holland from Robert W. Baird maintained a Buy rating on FedEx, with a price target of $350.00. The company’s shares closed last Wednesday at $293.11, close to its 52-week high of $319.90.
According to TipRanks.com, Holland is a 3-star analyst with an average return of 6.2% and a 70.8% success rate. Holland covers the Industrial Goods sector, focusing on stocks such as Expeditors International, Knight Transportation, and Old Dominion Freight.
FedEx has an analyst consensus of Strong Buy, with a price target consensus of $341.67, implying a 12.9% upside from current levels. In a report issued on May 26, KeyBanc also maintained a Buy rating on the stock with a $370.00 price target.
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Southwest Airlines (LUV)
In a report released yesterday, Duane Pfennigwerth from Evercore ISI maintained a Buy rating on Southwest Airlines, with a price target of $70.00. The company’s shares closed last Wednesday at $58.42.
According to TipRanks.com, Pfennigwerth is a 2-star analyst with an average return of 2.9% and a 45.2% success rate. Pfennigwerth covers the Industrial Goods sector, focusing on stocks such as Controladora Vuela Compania de Aviacion SAB de CV, United Airlines Holdings, and Allegiant Travel Company.
Currently, the analyst consensus on Southwest Airlines is a Strong Buy with an average price target of $70.75, implying a 19.9% upside from current levels. In a report issued on June 8, Raymond James also maintained a Buy rating on the stock.
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