FedEx's Stock Plunges as Revenue Forecast is Slashed

Shares of FedEx Corp. have dropped significantly after an earnings miss, creating an attractive buying opportunity for investors, according to Citi Research analyst Christian Wetherbee. While disappointed by the second-quarter results, Wetherbee believes the stock's selloff is overdone and sees any pullback as a buying opportunity. Other analysts have cut their price targets, citing softer demand trends in FedEx's Express business. Of the 33 analysts surveyed, 20 are bullish on FedEx. The stock has lost 3.4% month to date but has soared 44.4% year to date.