Investors are eagerly anticipating FedExearnings on Wednesday. After Goldman upgraded Amazon, will delivery of purchases made online boost the bottom line?
Most major Internet stocks gained some ground Tuesday, with Amazon.com shares rising more than others after a Goldman Sachs analyst said he thinks the company can "speedily double revenues."
In a client note, Goldman analyst James Mitchell said that he models the company as doubling its sales in three to four years, noting, among other supporting factors, that its share of the e-commerce market could "effectively double" over several years.
Mitchell rates the stock "Buy" with a $98 six-month price target.
Meanwhile Wall Street analysts aren't straying from FedEx's guidance: all eleven who follow FedEx are forecasting Q4 earnings within the company's $1.45 to $1.50 per share earnings range.
I don’t expect any surprises in FedEx says Guy Adami. However on a valuation basis I think it’s getting compelling. It’s a buy around $82.
Hate to do this to you, counters Pete Najarian, but I've got to take you down. It’s too early for FedEx.
It’s ridiculously early, exclaims Jeff Macke.
I like Amazon on this trend, Joe Terranova chimes in.