
FedEx is an American multinational courier delivery services company. The world’s largest express transportation company, it serves more than 220 countries, making around six million shipments every day. The company is listed on the New York Stock Exchange and currently has a market capitalisation of $45 billion.
Brokers are lifting their price targets
FedEx shares jumped recently after fourth-quarter results beat expectations. Boosted by a surge in home deliveries, adjusted earnings per share came in at $2.53, well above the consensus forecast of $1.52. As a result of this earnings beat, a number of analysts have raised their price targets for the stock. Wells Fargo, for example, has lifted its price target from $153 to $179. Meanwhile, UBS has lifted its price target from $158 to $181. Source: 2iQ Research