Jim Cramer expressed optimism about FedEx Freight Holding Company, Inc., the newly listed freight spinoff from FedEx, suggesting the stock has shaken off its post-spinoff blues and is poised to move higher. On his Mad Money show, Cramer highlighted that FedEx Freight is instantly the largest player in the less-than-truckload market, which he views as attractive as the freight business emerges from a multi-year bear market with reduced capacity. He also noted the benefits of independent management focused solely on improving service and growing the business. Bank of America raised its price target on the stock to $187 from $185 on June 26th, maintaining a Buy rating and increasing its 2027 earnings per share estimate to $5.41.
FedEx Freight Holding Company, Inc.Cramer's positive commentary and Bank of America's price target raise suggest the spinoff is poised to move higher.
FedEx Corporation
Bank of America Corp