Jim Cramer calls FedEx Freight a long-term buy after 25% pullback
CNBC's Jim Cramer has recommended FedEx Freight shares as a long-term investment. The company's stock has fallen approximately 25% from its recent peak.
Jim Cramer, a prominent financial commentator and host of CNBC's Investing Club, has identified FedEx Freight (FDX) as a compelling long-term buying opportunity. This recommendation comes after the company's stock experienced a significant pullback, dropping approximately 25% from its high on June 9.
Cramer characterized FedEx Freight as a "self-help story," suggesting that its previous operational integration within the larger FedEx corporation may have masked its independent potential. He believes that the recent market correction presents an attractive entry point for investors.
The analyst highlighted that despite the stock's decline, the underlying business fundamentals remain strong. Cramer indicated that previous market perceptions might have unfairly impacted the stock price, creating an opportunity for value investors.
This endorsement from Cramer suggests a confidence in FedEx Freight's ability to perform independently and deliver long-term value to shareholders, particularly following its spin-off and subsequent market adjustment.
Investors looking for opportunities in the logistics sector may consider Cramer's view on FedEx Freight as a potentially undervalued asset after its recent price correction.