FedEx price target raised to $314 from $293 at UBS

UBS raised the firm’s price target on FedEx (FDX) to $314 from $293 and keeps a Buy rating on the shares. Stronger revenue growth in Federal Express and stronger margin improvement of 65 basis points year over year drove the upside in Q1 while Freight operating margin was 190 bp worse than the firm expected, the analyst tells investors in a research note. UBS sees a positive response from the stock, as sentiment was “poor” heading into the print.