Truist raised the firm’s price target on FedEx (FDX) to $425 from $400 and keeps a Buy rating on the shares after its Q3 results. The firm says it is incrementally more positive on the stock given its yield strength, volume growth, and continued cost execution, the analyst tells investors in a research note. Truist adds that demand trends for FedEx appear stable into Q4, while sales mix is shifting toward higher margin B2B.
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