Stephens analyst Reed Seay raised the firm’s price target on FedEx (FDX) to $405 from $330 and keeps an Overweight rating on the shares after the company provided strategic insights for the coming years, as well as long-term and fiscal Q3 guidance, at its investor day this week. 2029 targets “gave investors what they were hoping for in a clear, achievable path to growth,” says the analyst, who was “encouraged” by the attention on free cash flow.
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