UBS raised the firm’s price target on FedEx (FDX) to $446 from $412 and keeps a Buy rating on the shares. FedEx delivered a strong Q3 EPS with 10% revenue growth in FEC and 70 bps of year-over-year margin expansion, signaling solid operating momentum, the analyst tells investors in a research note. Despite incremental Q4 headwinds and implied EPS guidance of $5.40-$6.20, the setup appears conservative relative to prior beats, supporting expectations for continued growth and a positive stock reaction, the firm says.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FDX:
- FedEx should respond positively to strong results, says Wells Fargo
- Closing Bell Movers: FedEx jumps 9% on earnings beat
- FedEx says not expecting as large of a sequential increase in Q4 EPS
- FedEx says plays to spin off Fedex Freight on June 1st remain on track
- FedEx does not see geopolitical conflicts having material effect on business