UPDATE: Jefferies Color on FedEx PT Increase

Jefferies, which raised its PT on shares of FedEx Corporation FDX, is providing some color on the stock. “FDX posted F4Q EPS and F2012 guidance that was meaningfully better than feared, driven by what management recently characterized as ‘the strongest pricing environment in years,” Jefferies writes. “Would you pay 14x for 30%-40% EPS growth?” FedEx closed Wednesday at $91.44.