J.P. Morgan Maintains Overweight on FedEx

J.P. Morgan is out with its report today on FedEx FDX, maintaining Overweight. In a note to clients, J.P. Morgan writes, "FDX delivered a solid 4Q report which provided evidence of continuing favorable yield growth trends and their F2012 guidance showed they continue to have conviction in a strong margin improvement and EPS growth story looking forward. We believe that there is some economic risk associated with FDX's F2012 earnings story but the more important drivers remain pricing and cost control. We continue to believe that reward to risk is compelling for FDX stock." J.P. Morgan maintains a $116 PT on FDX. Shares of FDX closed Thursday at $91.44, up 2.59% from Wednesday's close.