FedEx Seen Holding On to Business Picked Up From UPS, Yellow

FedEx expects to hold on to a majority of the 400,000 additional packages it now ships per daythat were added during labor negotiations between UPS and the Teamsters, BofA analysts say. “This is in contrast to UPS’ commentary that it expects to win back a majority of its business, and is willing to pay customer penalties,” BofA says. The analysts’ note follows a meeting with the shipping company’s new CFO John Dietrich earlier this week. FedEx also thinks it will keep the approximately 5,000 shipments per day in additional less-than-truckload freight it picked up following the bankruptcy of the trucking company Yellow. BofA maintains the stock as a buy along with its price target of $330.

Scroll to Top