FedEx price target raised to $205 from $200 at Morgan Stanley

Morgan Stanley analyst Ravi Shanker raised the firm’s price target on FedEx to $205 from $200 and keeps an Equal Weight rating on the shares. Fiscal Q1 featured a “healthy” EPS beat versus the firm’s forecast and consensus, and yet full-year unadjusted guidance was cut by 1% and full-year adjusted guidance raised by “only” 1% at the midpoint, the analyst tells investors. Whether this is the result of “conservatism or timing or sustainability,” it is tough to extrapolate numbers from here, the analyst argues.