FedEx price target raised to $450 from $360 at Barclays

Barclays raised the firm’s price target on FedEx (FDX) to $450 from $360 and keeps an Overweight rating on the shares. The firm says the investor day will highlight cost savings from the company’s continued network integration in its core U.S. package network. FedEx is capturing “incremental and lucrative” business-to-business market share, the analyst tells investors in a research note.