FedEx price target raised to $260 from $225 at UBS

UBS analyst Thomas Wadewitz raised the firm’s price target on FedEx to $260 from $225 and keeps a Buy rating on the shares. The company’s Q3 earnings upside showed better than forecast cost reduction, which supported stronger margin performance in all three of its segments, the analyst tells investors in a research note. The firm expects FedEx to show further progress on margins looking forward and a" significant move up" in the stock in response.