FedEx price target raised to $215 from $210 at Morgan Stanley

Morgan Stanley raised the firm’s price target on FedEx to $215 from $210 and keeps an Equal Weight rating on the shares. Q4 results came in slightly ahead of consensus, driven by LTL even as Ground and Express missed, while FY25 guidance is likely consistent with expectations, the analyst tells investors. The potential LTL spin will “get the most attention today” and be the biggest driver of the stock, driven by short-covering, but r, this should not materially impact fundamental value or risk-reward at FedEx, the analyst argues.