FedEx price target raised as ramp-up in cost savings drives strong 1Q results
Analysts at Bank of America (BoA) have raised their price target for FedEx (NYSE:FDX) after the transportation company delivered a first quarter fiscal 2024 earnings beat. They upped their price target on the ‘Buy'-rated stock from US$309 to US$311 based on their improved 2024 and 2025 fiscal year earnings per share estimates of $18.80 and $23.25 respectively.
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An Improved FedEx Can Deliver A New High: This Is Why
FedEx NYSE: FDX shares are up more than 5% following its Q1 report for fiscal year (FY) 2024 and could move higher. The results are mixed, the guidance as expected, but the margin and cash flow matter now.
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