拒发全年指引，联邦快递是否还值得买入？华尔街多空观点激烈交锋

智通财经2025-06-25

智通财经APP获悉，联邦快递(FDX.US)公布第四财季业绩后，分析师对其进行了点评。该公司强调了其在面对全球贸易挑战时的韧性，尽管行业形势疲软、运营天数减少、一项重要的美国邮政服务合同到期以及天气因素干扰，该公司仍连续两年实现了盈利增长。然而，这家航运巨头并未提供全年销售或利润预期，这让投资者感到失望。该公司公布业绩后股价下跌，截至发稿，盘前跌幅为4.67%。Evercore ISI分析师...

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Wall Street's bullish and short views fight fiercely","themeId":"d7bc50145aa63aaf4ea94def0cc26918","isJumpTheme":false,"ttsUrl":"https://static.tigerbbs.com/8c9de2411c9b34b3b575b0db8bb4c9b8","symbols_score_info":{"FDX":1},"content_text":"智通财经APP获悉，联邦快递(FDX.US)公布第四财季业绩后，分析师对其进行了点评。该公司强调了其在面对全球贸易挑战时的韧性，尽管行业形势疲软、运营天数减少、一项重要的美国邮政服务合同到期以及天气因素干扰，该公司仍连续两年实现了盈利增长。然而，这家航运巨头并未提供全年销售或利润预期，这让投资者感到失望。该公司公布业绩后股价下跌，截至发稿，盘前跌幅为4.67%。Evercore ISI分析师Jonathan Chappell给予联邦快递“增持”评级，并将目标价从249美元上调至259美元。Chappell表示：“尽管 2026 财年第一季度的预期显然远低于市场预期，但未来的走势与以往季节性趋势相比会有不同，因为本季度的具体挑战有所缓解(当然，前提是不会爆发全面贸易战)。我们预计 2026 财年第一季度每股收益将占 2026 财年总收益的不到 20%(长期平均值为 22%)，因此尽管我们将 2026 财年每股收益预测下调至 19.16 美元(从 19.95 美元下调)，但全年的总体表现可能不会像第一季度暗示的那样疲软。”美国银行分析师Ken Hoexter给予联邦快递“买入”评级，但将目标股价从 270 美元下调至 245 美元。Hoexter表示：“我们维持对联邦快递股票的买入评级，但下调目标价是基于其 2026 年每股收益的 13.0 倍市盈率。我们的市盈率估值低于其 12 倍至 18 倍的区间中值，因为其即将分拆的联邦快递货运业务所带来的结构性成本削减和价值释放所带来的增长势头，与宏观经济不确定性、通胀压力和关税积压等因素相平衡。”摩根士丹利分析师Ravi Shanker给予联邦快递“减持”评级。Shanker指出：“联邦快递第四季度每股收益预期表现一般，但其未来业绩指引却出人意料，因为管理层拒绝给出 2026 财年业绩指引，且第一财季每股收益比预期低约 9%。以这个起点来看，要实现 2026 年的每股收益增长很难，除非出现明显的上升趋势。”德意志银行给予联邦快递“买入”评级。德银指出：“我们对联邦快递上个季度的整体表现印象深刻。具体而言，我们很高兴看到在 Express 业务中，由于销量高于预期而实现了营收上的超预期表现，从而带来了近 75%的强劲增量利润率，这是我们在过去十年中看到的联邦快递最佳业绩之一。”而Seeking Alpha分析师们对联邦快递和联合包裹(UPS.US)均给予了“买入”评级。值得注意的是，研究公司 Moretus Research在周二对联合包裹给予了“强烈买入”评级。Seeking Alpha分析师则对联合包裹发布了新的“看涨”评级，称其在战略转型方面具有价值投资潜力。Seeking Alpha分析师补充道：“我认为这些估值已经充分反映了风险因素的影响，但仍有进一步下跌的空间。这是一个买入边际拐点的信号，需要有耐心的投资者，他们愿意忍受近期的波动以换取长期收益。”","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":1,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.42.0","shortVersion":"4.42.0","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2546248899","isCrawlerRequest":true}