FedEx (NYSE:FDX) shares are up by nearly 13% today after the logistics major delivered a promising fourth-quarter performance. The results have prompted multiple price revisions for FedEx by top analysts on Wall Street.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Analysts Warm Up to FedEx
Importantly, FedEx issued a robust outlook for Fiscal year 2025. The company also expects to repurchase shares worth $2.5 billion during the year. Consequently, Robert W. Baird’s Garrett Holland has increased his price target for FDX to $340 from $325 while maintaining a Buy rating. Holland views FDX favorably owing to its, “consistency in execution, improving profitability, and prudent capital allocation.”
FDX’s profitable growth also prompted J.P. Morgan’s Brian Ossenbeck to raise his price target on the stock to $359 from $296. Ossenbeck also has a Buy rating on FDX. Overall, the stock has received a Buy rating from a whopping seven analysts today.
Wells Fargo’s Christian Wetherbee and Oppenheimer’s Scott Schneeberger, however, are sitting on the sidelines with a Hold rating on FDX. While Wetherbee increased his price target on FDX to $300 from $275, he noted that the company’s Q4 numbers indicate a stable performance but not a compelling growth trajectory.
What Is the Price Forecast for FedEx Stock?
Despite today’s price gains, shares of the company remain nearly 7% lower over the past three years. Overall, the Street has a Moderate Buy consensus rating on FedEx, alongside an average FDX price target of $301.85. Notably, the TipRanks Website Traffic tool hinted at a robust Q4 performance by FedEx.
Read full Disclosure
