FedEx price target raised to $145 from $130 at Morgan Stanley

Morgan Stanley analyst Ravi Shanker raised the firm’s price target on FedEx to $145 from $130 and keeps an Equal Weight rating on the shares. Shanker, who sees signs that the 2022 Freight downcycle may be bottoming, also raised his industry view to In-Line from Cautious. However, among subsegments he remains the most bearish on Parcel due to mean reversion in the U.S. and International on volumes and pricing.