FedEx Stock Soars to New Peak. Here's Why I'm Doubling Down
(NYSE: FDX) recently hit its all-time high, but it's not too late for investors to buy this bellwether stock. The freight and parcel delivery powerhouse operates in a highly competitive environment, and it's prone to economic cyclicality. However, the company delivers reliably strong financial results and impressive efficiency metrics. Investors can own a great company without breaking the bank.
FedEx stock is up more than 20% year to date, pushing it within a dollar of its $315.59 all-time high, set in 2021. Investors should be wary of stocks streaking to all-time highs based purely on speculation and runaway valuation ratios. Gains in those scenarios are based solely on investor sentiment, which can be fickle and subject to rapid change.
Image source: Getty Images.
Source Fool.com
Fedex Corp. Stock
The stock is an absolute favorite of our community with 41 Buy predictions and no Sell predictions.
With a target price of 295 € there is a slightly positive potential of 4.74% for Fedex Corp. compared to the current price of 281.65 €.
