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FedEx (FDX) Gets a Buy Rating from Bank of America Securities

Bank of America Securities analyst Ken Hoexter maintained a Buy rating on FedEx (FDXResearch Report) on June 24 and set a price target of $276.00. The company’s shares closed last Friday at $243.24.

According to TipRanks.com, Hoexter is a 4-star analyst with an average return of 7.5% and a 54.8% success rate. Hoexter covers the Industrial Goods sector, focusing on stocks such as Westinghouse Air Brake Technologies, Knight Transportation, and Old Dominion Freight.

FedEx has an analyst consensus of Strong Buy, with a price target consensus of $293.80, representing a 24.0% upside. In a report issued on June 14, Stephens also maintained a Buy rating on the stock with a $285.00 price target.

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FedEx’s market cap is currently $63.04B and has a P/E ratio of 12.77.

Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FDX in relation to earlier this year. Last month, Frederick W. Smith, the Chairman of FDX bought 198,675 shares for a total of $16,937,044.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Founded in 1971, FedEx Corp. is a multinational delivery services company based in Tennessee. It provides transportation, e-commerce, and business services worldwide. The company offers integrated business solutions through operating companies competing collectively, operating collaboratively and innovating digitally under the FedEx brand.

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