FedEx (NYSE: FDX) showed disappointing quarterly earnings numbers. However, contrarian analysts think that the stock is a good buy.

In an interview with CNBC, Don Broughton, analyst with Avondale Partners said, “We are impressed with the company’s outlook, which includes non-cash pension headwinds, and would use any opportunity to purchase shares at these levels.”

He also noted that FedEx (FDX) is well placed to grow its Asian and the US business.

Jim corridor of Standard & Poor has rated the stock as a ‘strong buy’ with a 12-month price target of $113. He said that the company has recorded good revenue growth.

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