Loop Capital raised the firm’s price target on FedEx to $292 from $270 and keeps a Hold rating on the shares. The firm cites the company’s better than expected Q3 resutls, highlighted by its Express division operating margin bucking the sequential seasonal trend of decline from Q2 to Q3, the analyst tells investors in a research note. FedEx Ground division revenues also eked out a 0.5% y/y gain at an operating margin of 11.1% vs. 9.7% in the year-ago quarter, the firm added.
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