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FedEx price target raised to $278 from $259 at Citi

Citi analyst Ariel Rosa raised the firm’s price target on FedEx (FDX) to $278 from $259 and keeps a Buy rating on the shares. The firm sees balanced risk/rewards for transport stocks heading into the Q2 reports due macro uncertainty and a “still-soft” demand backdrop. Citi is “less enthusiastic” on the sector relative to three months ago due to the recent rally in the shares.

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