Argus keeps a Buy rating with a $300 price target on FedEx (FDX) ahead of its Q3 results. The company expects growth in the second half of this fiscal year as lower interest rates spur demand for its services amid growth at its customers, and the firm is positive on the management’s emphasis on premium services, including automotive and cold chain support where it is targeting growth this year, the analyst tells investors in a research note. Argus adds that FedEx has recently signaled confidence in its outlook with a 10% dividend hike and an expanded share-repurchase program.
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