FedEx price target raised to $330 from $300 at BMO Capital

BMO Capital raised the firm’s price target on FedEx (FDX) to $330 from $300 and keeps a Market Perform rating on the shares after its Q2 results. The company’s guidance was lowered, reflecting ongoing demand and macro headwinds, but the underlying performance in the package segment continues to show progress on the structural cost reduction front, which positions FedEx to leverage an eventual demand recovery, the analyst tells investors in a research note. FedEx’s decision to proceed with a full separation of the LTL segment also has the potential to unlock significant value and is a welcomed holiday gift to shareholders, BMO added.