NEW YORK ( TheStreet) -- When shares of FedEx (FDX - Get Report) reached a high of $118 more than a week ago, I reached for my wallet to check how much money I had. No, I wasn't thinking about buying the stock. I needed some proof the full-blown economic recovery, on which this stock is trading, was actually real.If we can look beyond the shutting down of our government, there are indeed meaningful signs of fiscal progress here in the U.S. But that's not necessarily the case for other FedEx markets like Europe, Asia and Latin America. Given that the stock now trades at the pre-global-recession highs of 2006, it's time to approach with caution and ship some FedEx shares out of your portfolio.
FedEx's Stock Has Limited Upside
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.