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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on FDX:
- FDX vs. UPS: Which Logistics Stock Will Deliver More Gains?
- Early notable gainers among liquid option names on September 21st
- FedEx guidance raise likely first of many, says Deutsche Bank
- FedEx remains high conviction idea in transports at Barclays
- FedEx price target raised to $300 from $295 at Citi
