FedEx Rises on Bernstein Upgrade as We Shop Around the Clock

10 Aug 2020

FedEx Rises on Bernstein Upgrade as We Shop Around the Clock

. By Christiana -- We may be stuck at home, but that's not stopping our shopping habits.FedEx (NYSE:FDX) shares popped almost 7% to their highest in two years after <strong>Bernsteinstrong> raised it to a buy-equivalent.<strong>Bernsteinstrong> expects strong results, and pushed it from a <strong>marketstrong> perform to an outperform."E-commerce parcel <strong>pricingstrong> is expected to remain strong as the pull forward of e-commerce penetration has strained delivery capacity," Seeking Alpha reported <strong>Bernsteinstrong> as saying. "<strong>Pricingstrong> is the key to getting better returns out of residential delivery, and once the carriers begin to take price / improve margins we expect the <strong>marketstrong> to move beyond the 'e-commerce driven negative margin mix shift' narrative that has plagued the sector." Shares of FedEx and United Parcel Service (NYSE:UPS) rose last week after they said they will be raising prices aggressively to help manage the overwhelming demand as a result of stay-at-home mandates prompted by Covid-19, said. FedEx will boost international fees on select routes starting Monday, and said it also plans to apply holiday surcharge.

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