Mark Vickery

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Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: FedEx Corporation (NYSE: FDX), Research In Motion Ltd. (Nasdaq: RIMM), Gushan Environmental Energy Ltd. (NYSE: GU), Accuray, Inc. (Nasdaq: ARAY) and Net Servicos (Nasdaq: NETC).

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Here are highlights from Wednesday's Analyst Blog:

Target Down for Hold-Rated FedEx

We are maintaining our Hold on FedEx Corporation (NYSE: FDX), but reducing our target price to $77. FDX will report 2009 fiscal first quarter results on September 18. We are continuing our fiscal 2009 diluted EPS estimate at $4.90, near the mid-point of FDX diluted guidance of $4.75-5.25.

Fuel surcharges will lag record high fuel costs and the weak economy will hurt LTL freight, US express, and copy services. Remedial actions include cost-control measures and cuts in capital spending. FDX reported 2008 fourth quarter EPS of $1.45 before a $2.22 per share Kinko's impairment charge, down 24% year over year. FDX recently increased its annual dividend rate by 10% to $0.44 per share, which provides a 0.6% yield.

Research in Motion Moving Ahead

We maintain our Buy recommendation and the same valuation target for Research In Motion Ltd. (Nasdaq: RIMM), following last week's financial release for first quarter fiscal 2009 (ended May 31). We expect the smart-phone device market to gain momentum as opportunities remain firm on a global market basis.

RIMM's channel sales expansion initiatives are also considered an impetus for meaningful top-line growth as the company introduced a series of next-generation BlackBerry smart-phones, specifically targeting CDMA EV-DO, EDGE, and Wi-Fi networks. In the current fiscal year, RIMM is likely to introduce further 3G enabled high- end BlackBerry devices.

Hold Gushan, Chinese Biodiesel

China's biggest bio-diesel player Gushan Environmental Energy Ltd. (NYSE: GU) is ramping up its production capacity in a big way to cater to the strong energy demand fueled by China's fast growing economy. The company's proprietary technology allows it to use cheaper sources of raw material and have a lower cost structure than its peers.

Looking ahead, escalating oil prices on account of lower fuel subsidies by the government, higher production and entry into the high margin chemical market should collectively generate significant earnings growth. However, strong governmental control over diesel prices and rising Chinese inflation continue to weigh on the stock.