FedEx is a 'no-brainer' buy if it sells off on earnings, investor says $FDX (via TradingNation)
The delivery company has slumped nearly 40% from a 52-week high set last September, almost double the 20% decline that delineates a bear market from a correction. It has also held flat for the year, tracking for its smallest annual move ever.
"Longer term, you're off 38% from your highs, the barriers to entry are so hard to penetrate on FedEx and at the current valuation, it's a no brainer," Petrides told CNBC's "FedEx has missed analysts' estimates twice in the past three quarters, which kicked off an average 7% decline in the stock. Those losses have pushed the company's forward price-to-earnings ratio below 10, a cheap valuation compared with the S&P 500's 17 times multiple.
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