BUZZ-BofA lifts FedEx and UPS rating; shares rise
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BofA has upgraded FedEx (FDX) to "buy" from "neutral" with a price target of $365, citing successful cost-reduction initiatives and the spin-out of FedEx Freight as a value unlock. FedEx shares rose about 1% to $311.5. UPS (UPS) was upgraded to "neutral" from "underperform" with a price target of $114, as the company implemented significant cost-cutting measures. UPS shares also increased by 1% to $108.1.
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