FedEx price target raised to $225 from $215 at UBS

UBS analyst Thomas Wadewitz raised the firm’s price target on FedEx to $225 from $215 and keeps a Buy rating on the shares. FedEx delivered upside Q2 EPS despite a meaningful deterioration in y/y volumes with Domestic Express volumes down 15% y/y, Wadewitz tells investors in a research note. The stabilization in Q2 EPS and full year guidance indicate FY23 is likely to be a trough for EPS, which should be supportive of the stock, the analyst says.