TD Cowen and Stephens raise PT on FedEx after Q1 results

Yellow

22/09/2023 12:27

** Brokerages TD Cowen and Stephens adjust price targets on
FedEx  FEX.N  to reflect co's Q1 results
    ** Shares of FedEx edge up ~0.2% premarket
    ** TD Cowen raises price target of FDX to $290 from $280,
new PT represents a 10.75% upside to stock's last close
    ** Stephens raises price target to $330 from $290, new PT
represents a 26% upside
    ** FDX reported first quarter adj. EPS of $4.55 vs analysts'
average estimate of $3.73 - LSEG data
    ** Co noted a benefit in July from the potential UPS  UPS.N 
strike and in August due to Yellow's  YELLQ.PK  bankruptcy 
    ** 19 brokerages rate the stock "buy" or higher and 12
"hold"; their median PT is $290
    ** Up to Thursday's close, stock has risen 51.18% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))