FedEx (FDX) PT Raised to $285 at BofA Securities

BofA Securities analyst Ken Hoexter raised the price target on FedEx (NYSE: FDX) to $285.00 (from $270.00) while maintaining a Neutral rating.

The analyst comments "Yesterday, FedEx hosted a small sell-side group meeting with R. Brad Martin, FedEx’s new Executive Chairman (FedEx’s first after the 52-year run of founder and former chairman & CEO Fred Smith), president & CEO Raj Subramaniam, and EVP & CFO John Dietrich, along with its investor relations team. Martin noted FedEx is focused on achieving ‘moderate’ revenue growth, ‘significantly expanded’ operating margins, ‘significantly’ reduced capex, and improved free cash flow, before adding in benefits of strategic opportunities and AI, which should provide significant value creation."

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