UPDATE: Oppenheimer Reiterates On FedEx On Multiple Positive Factors

In a report published Thursday, Oppenheimer analyst Scott Schneeberger reiterated an Outperform rating on FedEx Corporation FDX, and raised the price target from $175.00 to $200.00. In the report, Oppenheimer noted, “With the holidays at hand/e-commerce activity exhibiting strength, US economic/employment/industrial production continuing to gradually improve, global activity relatively stable, and fuel prices dropping more rapidly than fuel surcharges/ abetting consumer confidence, plenty of positives exist to draw investors to FDX. Including the company's profit improvement plan, which is entering the period it's expected to demonstrate meaningful financial impact, as well as FDX's solid balance sheet, sizable (15M) share repurchase authorization/recent propensity to execute it, and we view more nice than naughty in its risk/reward profile. As solid fundamental trends perpetuate, and fuel/potential share buybacks lend support, we're increasing F2Q15E/FY15E/FY16E/FY17E EPS to $2.20(+40% y/y)/$9.05(+34% y/y)/$10.95(+21% y/y)/$12.25(+12% y/y), respectively, and our PT from $175 to $200.” FedEx closed on Wednesday at $180.04.