JP Morgan has decided to maintain its Overweight rating of FedEx (NYSE:FDX) and raise its price target from $279.00 to $284.00.
Shares of FedEx are trading up 6.71% over the last 24 hours, at $243.44 per share.
A move to $284.00 would account for a 16.66% increase from the current share price.
About FedEx
FedEx pioneered overnight delivery in 1973 and remains the world's largest express package provider. In its fiscal 2020 (ended May 2020), FedEx derived 51% of revenue from its express division, 33% from ground, and 10% from freight, its asset-based less-than-truckload shipping segment. The remainder comes from other services, including FedEx Office, which provides document production/shipping, and FedEx Logistics, which provides global forwarding. FedEx acquired Dutch parcel delivery firm TNT Express in 2016. TNT was previously the fourth- largest global parcel delivery provider.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
