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Fedex Bolstered By Cost Savings from Its DRIVE Program

publication date: Mar 25, 2024
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Image: FedEx continues to extract cost savings from its DRIVE initiatives. 

FedEx is doing a lot of things right as it drives cost savings from its DRIVE program in the face of a challenging revenue environment. Shares of FedEx bounced nicely following the release of its fiscal third quarter report, and while they aren’t trading at bargain basement prices on the basis of our fair value estimate, we think shares could have upside to north of $300 based on the high end of our fair value estimate range. Shares yield ~1.8% at the time of this writing.


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