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Weekly Recap: $FDX, $UPS, $TSLA and $EL

The Good:

FedEx and UPS

It’s a good day to be in shipping. Both FedEx and UPS, two of the largest private parcel companies in the country, saw stocks rise over 4.5% as Wall Street has continued to warm to both amid a boom in package delivery during the pandemic. Analysts are most encouraged by the price power both companies are exhibiting thanks to demand. Price targets and analyst enthusiasm have both boomed year over year, with FedEx gaining more enthusiasm and momentum than UPS. For example: a year ago, the average price target for FedEx was $140. Today it’s $325. UPS was at $100 at the same time last year and is now at $210. While FedEx is more of a Wall Street darling, UPS has had a stronger showing in 2021 thanks to its first quarterly report.


The Bad:

Tesla

Tesla had another losing day after breaking a 3-day down streak last week. Today’s trouble came from a delay in the production of its promised German factory, one of its self-dubbed “gigafactories.” Currently under construction in Berlin, reports revealed the gigafactory will need an additional 6 months to get up and running. This caused Tesla stocks to slip a little over 2%. The delay will push production back in Tesla’s only European-based gigafactory back from late 2021 to early 2022. Tesla is also developing gigafactories in Shangai and Austin on top of its pre-existing facilities.


The Ugly:

Estee Lauder

Estee Lauder, the prestige skincare and makeup leviathan, saw its stock fall nearly 8% after its earnings report missed the mark as retail stocks were broadly up today. Despite assurances that we’re approaching a “makeup renaissance” from the company’s CEO, high expectations and a Covid-inspired dip made Lauder miss the mark. While some numbers were up—most notably sales in skincare and fragrance—the stock was anchored by a slip in makeup sales. While leadership at Lauder pointed to an increase of retail demand as vaccinations increase and restrictions decrease, the high marks the company got from a variety of analysts will have to be met to keep the stock at elevated levels.

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