From Earlier: Citi Reiterates FedEx Buy

Citi reiterated its FedEx (NYSE: FDX) Buy rating in a research report published today. Citi has a $100 price target on the company.

In the report, Citi stated, "We are encouraged by FedEx's move to take more of a leadership position in LTL, particularly as Freight's results have been challenged over the last several years, as the segment has posted operating losses in eight of the last twelve quarters reported (F4Q09 – F3Q12)."

Shares of FedEx were trading at $87.34 at the time of posting, up 1.44% from Thursday's market close.

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