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.
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Read More on FDX:
- FedEx price target raised to $350 from $311 at UBS
- FedEx price target raised to $320 from $316 at Bernstein
- FedEx price target raised to $348 from $325 at BofA
- FedEx price target raised to $370 from $366 at JPMorgan
- Loop upgrades FedEx to Buy on ‘value creating spin’
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
