In a report published Wednesday, Wunderlich Securities analyst Chaz Jones reiterated a Buy rating on FedEx Corporation FDX, and raised the price target from $120.00 to $157.00.
In the report, Wunderlich Securities noted, “We reiterate our Buy rating on shares of FedEx (FDX) and we are raising our price target from $120 to $157. FDX remains well positioned to benefit from longer-term secular trends that include increased global sourcing and selling, more sophisticated supply chain management, and e-commerce expansion. We believe FDX provides large cap transportation investors with scarcity value via its EPS leverage potential over the next few years. Supported by the company's profit improvement program, current consensus estimates call for EPS growth to accelerate 26% and 18% in FY15 & FY16, respectively, far outpacing other large transport stocks. We are confident that FDX's strategic plan will result in reaching its goal of 10%+ enterprise margins, while increasing cash flow, ROIC, and dividends.”
FedEx Corporation closed on Tuesday at $137.81.
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