FedEx price target raised to $320 from $305 at Wells Fargo

Wells Fargo raised the firm’s price target on FedEx (FDX) to $320 from $305 and keeps an Equal Weight rating on the shares. FedEx’s decision to spin LTL is a positive and unlocks value, but LTL results were not good, likely limiting sum of the parts value, the analyst tells investors in a research note. The firm expects shares to react positively to value creation.