UBS raised the firm’s price target on FedEx to $323 from $312 and keeps a Buy rating on the shares following the quarterly results. Strong Ground margin in Q1 points to a favorable path and traction on DRIVE cost savings, the analyst tells investors in a research note. The firm raised its FY24 EPS estimate from $18.17/share to $18.50/share, which is the high end of FedEx’s guidance range.
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