FedEx price target raised to $350 from $310 at Barclays

Barclays analyst Brandon Oglenski raised the firm’s price target on FedEx to $350 from $310 and keeps an Overweight rating on the shares. The company’s fiscal Q3 results were less negative than expected and management commitments to achieving cost reduction targets and longer-term merger of Express and Ground operations support material upside in FedEx shares, the analyst tells investors in a research note.