FedEx price target raised to $269 from $257 at Credit Suisse

Credit Suisse analyst Ariel Rosa raised the firm’s price target on FedEx to $269 from $257 and keeps an Outperform rating on the shares. Progress in cost cutting is beginning to show up in FedEx’s results, with more expected to come, the analyst tells investors in a research note. FedEx remains the firm’s top pick with upside from cost cutting and further upside on the potential for gradual improvement in macro conditions, offset by risks including continued soft volume demand and poor management execution.