FedEx price target raised to $310 from $290 at BMO Capital

BMO Capital raised the firm’s price target on FedEx to $310 from $290 and keeps a Market Perform rating on the shares. The company’s Q3 results benefitted from lower variable compensation, which supported the earnings beat in Express and on a total consolidated basis, the analyst tells investors in a research note. FedEx continued to demonstrate solid momentum in terms of cost reduction successfully mitigating an ongoing soft macro environment, the firm added.