FedEx price target raised to $290 from $200 at Stephens

Stephens analyst Jack Atkins raised the firm’s price target on FedEx to $290 from $200 and keeps an Overweight rating on the shares. Investors "were expecting a solid" fiscal Q3, but "got that and more" with a sizable beat and an unexpected raise to the FY23 guidance, Stephens said. All eyes now turn to the company’s April 5 analyst day and plans for meaningful earnings improvement could translate into $30-plus in annual EPS in FY25 if successful, which compares to the $14.90 in adjusted EPS expected at the mid-point of the company’s FY23 outlook, the firm added.