Stephens analyst Reed Seay raised the firm’s price target on FedEx (FDX) to $435 from $405 and keeps an Overweight rating on the shares after the company reported fiscal Q3 adjusted EPS well ahead of Street’s raised estimate and raised guidance. The firm expects FEC to continue to outperform the industry and expects Freight to improve profitability once it has passed the separation friction, the analyst tells investors in a post-earnings note.
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Read More on FDX:
- FedEx price target raised to $450 from $430 at Wells Fargo
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- FedEx: Network Optimization and Market-Share Gains Drive Upgraded Earnings Outlook and Higher Valuation Target
- FedEx price target raised to $230 from $220 at Morgan Stanley
- FedEx price target raised to $446 from $412 at UBS