Wells Fargo raised the firm’s price target on FedEx (FDX) to $295 from $290 and keeps an Equal Weight rating on the shares. Coming off the firm’s callback, Wells is raising 2027 estimates. Express was strong, and the core outlook is solid into the second half of the year, implying a better run-rate into 2027, Wells adds. Freight is soft into the spin and with second half of the year estimates capped by the guide shares are likely muted, it argues.
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