HSBC initiated coverage of FedEx with a Buy rating and $330 price target. The analyst says even partial success in the company’s efforts to reduce costs by $6B by fiscal 2027 “could go a long way towards boosting investor confidence.” The firm forecasts FedEx will narrow the EBIT margin gap with UPS by integrating its ground and express delivery networks. It prefers FedEx on earnings growth versus a decline for UPS in its forecast period.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on FDX: