I am traveling this week after attending the Cabot Wealth Summit last week in Salem, Massachusetts. The summit was a resounding success again, with many investment ideas exchanged among attendees and Cabot analysts.
My stock pick for the coming year is Facebook (FB). The growth prospects for FB are phenomenal and the stock is selling at a reasonable price. I predict FB shares will rise 50% to my Min Sell Price of 254.64 within 12 months when the next Cabot Wealth Summit rolls around.
In this Weekly Update, I summarize the latest news for FedEx (FDX), the only company to report quarterly results during the past two weeks.
Also, in this Update, I present two indexes which list companies featured in the Cabot Value Model or in the Cabot Enterprising Model during the most recent four months so you can quickly find my recent write-ups for stocks appearing in the models.
My schedule for next week will be:
Tuesday, September 26, Wall Street’s Best Daily
Wednesday, September 27, Wall Street’s Best Daily
Friday, September 29, Weekly Update
Company Reports
FedEx (FDX 220.50) reported decent results for the quarter ended August 31. Sales advanced 4% but EPS fell 11% to $2.19 a share after increasing 21% and 29% in the prior quarter, respectively. The cyberattack on the company’s European subsidiary, TNT, reduced per-share earnings by 79 cents in the period.
Management lowered the company’s profit targets for the remainder of the year to $12.40, down from the previous estimate of $13.60.
Starting January 1, FedEx said FedEx Freight, Express, Ground and Home Delivery shipping rates in the U.S. will increase by an average of 4.9%. FedEx is preparing for the surge in holiday shipments from the boom in online shopping. Buy at 213.83 or below.
Index of Latest Summaries – Recommendations featured in recent issues.
