BUZZ-Deutsche Bank lifts FedEx's PT, sees profit boost from network revamp
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Deutsche Bank raised FedEx's price target to $322 from $276, maintaining a 'buy' rating. The new target suggests a 14% upside from the last close. The bank believes FedEx's express segment deserves a higher valuation due to its efforts to regain growth and margins. Network integration, Europe revamp, and firm pricing could further boost profits. FedEx will announce Q2 earnings on Thursday. Currently, 19 out of 30 brokerages rate the stock as 'buy' or higher, with a median price target of $285.
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