'Sell Into FedEx (FDX) Strength'; Standpoint Cuts to Hold

Standpoint Research downgraded FedEx (NYSE: FDX) from Buy to Hold. Analyst Ronnie Moas noted thinks shares moved higher on rumors hedge fund manager Bill Ackman was raising money to acquire a stake. With this in mind, investors should "sell into strength."

"FedEx shares have hit an all-time high and are now fairly valued at > 17X trailing twelve months earnings, > 15X estimates for 2014 and > 12X estimates for 2015. The shares may be running up on speculation that Bill Ackman is taking a big position in this name. I would sell into this strength," said Moas.

For an analyst ratings summary and ratings history on FedEx click here. For more ratings news on FedEx click here.

Shares of FedEx closed at $106.00 yesterday.

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