FedEx price target raised to $400 from $290 at BMO Capital

BMO Capital raised the firm’s price target on FedEx (FDX) to $400 from $290 and keeps a Market Perform rating on the shares after its Investor Day update. The company outlined a balanced framework aimed at improving revenues, mix, and cost performance through 2029, but while the industrial logic behind the strategy is sound, the margin improvement guided by FedEx will depend heavily on both macro, operational execution, and industry competitive dynamics, the analyst tells investors in a research note.