Analysts Are Upgrading These 5 Stocks

2. FedEx Corporation (NYSE:FDX)

Number of Hedge Fund Holders: 57

Citi improved its ratings for FedEx Corporation (NYSE:FDX) from “Neutral” to “Buy” on Thursday, February 2. Analyst Christian Wetherbee seemed impressed with the recently announced cost-cutting initiative by the company.

FedEx Corporation (NYSE:FDX) last week disclosed plans to trim about 10 percent of its senior staff, including directors and officers. The latest announcement is a part of its broader efforts to save costs amid fading demand.

Package delivery companies, including FedEx Corporation (NYSE:FDX), enjoyed massive growth during the peak of the pandemic. However, those companies now face weak demand amid increasing inflation and life returning to normal post-Covid.

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