Morgan Stanley analyst Ravi Shanker raised the firm’s price target on FedEx (FDX) to $210 from $200 and keeps an Underweight rating on the shares. The company delivered “a solid beat” in fiscal Q2, led by notable gains in B2B and peak season, though some lumpiness on costs in the next two quarters will prevent the beat from fully translating to the fiscal year, the analyst tells investors in a post-earnings note.
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- FedEx: Strong Quarter Masked by Unsustainable Tailwinds and Rising Cost Headwinds, Justifying Continued Sell Rating
- FedEx price target raised to $294 from $285 at JPMorgan
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