JP Morgan has decided to maintain its Overweight rating of FedEx 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.
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.
About Analyst Ratings
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