From CNBC:
News Headlines
....In a continuing saga unfolding on Wall Street, many individual analysts are upgrading the companies they cover based on company metrics, despite macroeconomic fears being spread by top-down economists.
It’s a battle where it’s not quite certain who to believe: the more objective economists studying the data from 30,000 feet or the individual analyst, who tends to err on the favorable side, but have a laser-focus on the microeconomic factors sometimes missed from the economists’ Ivory towers.
The latest example came today when a BB&T analyst upgraded FedEx following a 19% drop and 8% slide respectively in the shares over the last three months on double-dip recession fears.
Using the kind of data that only an analyst would uncover, BB&T’s Kevin Sterling cited FedEx’s plans to increase pilot work hours to pre-recession levels “in anticipation of stronger demand, particularly out of Asia.” The analyst also cited moves by both UPS and FedEx to add planes to their Asia networks.