Market Wrap - Stock Pick — Fedex
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Grant Gilburt from Nedbank Private Wealth chose Fedex Corp as his stock pick of the day.
"Stock Pick tonight is Fedex, so we are going international tonight and I do think that we are getting closer to some form of trade resolution. Fedex is the world's largest express delivery provider, second largest in the US so we do think that they could benefit from this e-commerce theme that we are seeing. What has been dragging down their results is the international trade so we that segment of the business being quite soft and they've had some integration issues with some of the M&A that they have done - buying TNT. It is trading on a PE of 11 times and it is very difficult to find value in the international market and a good opportunity for long term investors."
"Stock Pick tonight is Fedex, so we are going international tonight and I do think that we are getting closer to some form of trade resolution. Fedex is the world's largest express delivery provider, second largest in the US so we do think that they could benefit from this e-commerce theme that we are seeing. What has been dragging down their results is the international trade so we that segment of the business being quite soft and they've had some integration issues with some of the M&A that they have done - buying TNT. It is trading on a PE of 11 times and it is very difficult to find value in the international market and a good opportunity for long term investors."
