FedEx Corporation (NYSE: FDX)

FedEx Corporation (NYSE: FDX) is one of the world’s largest package delivery carriers and is a direct competitor to global leader United Parcel Service (UPS).

For the better part of the last two years – between January 2018 and March 2020 – the company’s share price had slumped, as investors appeared to be losing confidence in its direction.

But since finding a bottom in March, the company’s share price has risen as investors have shown great optimism about the company’s future, in part thanks to the increase in package shipping volume thanks to the Covid-19 pandemic.

Morningstar analyst Matthew Young recently wrote, “Business-to-consumer volumes are surging, and FedEx’s longer-term growth prospects haven’t evaporated… domestic/international e-commerce tailwinds should remain favorable for years to come.”