FedEx Freight Spinoff: FDXF Valuation and the Remaining FedEx Stub

The FedEx Freight spinoff did not produce a cheap orphan stock. It produced something more interesting: a standalone LTL(less-than-truckload) carrier that already trades at a serious valuation, and a parent company that is now easier to analyze and looks cheap. Investors looking at FedEx Freight Holding Company, which now trades on the New York Stock Exchange under the…