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Brokers upgrade price target on FedEx as Q1 earnings beat Street estimates
Summary
Brokers raise their price targets on FedEx Corporation (NYSE: FDX), leading to a 2.63% surge in the company’ share price. The stock price reached US$267.97 on September 25, 2023, as Daiwa Capital, Loop Capital and others increase their price target on the FDX.
As per Refinitiv data, FDX has a mean recommendation rating of 2.1 on five. Here, one stands for a ‘strong buy’ rating while five indicates a ‘strong sell’ rating. Meanwhile, the consensus mean price target on the stock is US$279.67, an upside potential of almost 5% over Monday’s closing price.
Brokerage Daiwa Capital lifted its price target on FDX to US$275 from its previous target of US$240. The new price target represents a 5.3% upside over stock’s closing price on Monday.
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