FedEx price target raised to $263 from $241 at Loop Capital

Loop Capital raised the firm’s price target on FedEx to $263 from $241 but keeps a Hold rating on the shares. The analyst cites the company’s investor update regarding its cost-cutting and margin enhancement programs. The firm adds however that while the commentary is positive, FedEx’s track record on margin initiatives is poor, and it appears that its proposed network integration may prove "insufficient and incomplete".