UPDATE: Sterne Agee Reiterates $115 PT and Buy Rating on FedEx Ahead of 3Q Earnings Report

In a report published by Sterne Agee analyst Jeffrey A. Kauffman reiterated his Buy rating and $115 price target on FedEx Corp. FDX. Sterne Agee reported that, “FDX will report its Fiscal 3Q13 EPS tomorrow pre-market with a conference call at 8:30am EDT. This will be a figure that won't matter as much to investors given the transition period that 2013 represents; how much in retirement and realignment costs to expect could surprise either way. Our point being, it's more the progress on restructuring and status of improvement in markets heading into Fiscal 2014 this summer that will be the focus of investors.” Shares of FedEx closed at $107.29 on Monday.