Goldman Sachs analyst Jordan Alliger raised the firm’s price target on FedEx (FDX) to $364 from $317 and keeps a Buy rating on the shares after its Investor Day update. The firm’s assumed earnings multiple goes to 16x from 14x given the structural improvements around FedEx, the global revenue opportunity set, the potentially better macro setup, and ahead of the earnings upgrade cycle, the analyst tells investors in a research note.
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