FedEx price target raised to $365 from $350 at Barclays

Barclays raised the firm’s price target on FedEx (FDX) to $365 from $350 and keeps an Overweight rating on the shares. The firm says transportation equities could benefit from lower U.S. corporate tax rates following the election of Donald Trump. Given higher market multiples and improved sentiment for cyclical U.S. industrial exposure, the firm raised price targets across the group.