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FedEx price target raised to $274 at Oppenheimer ahead of Q3 earnings report
Oppenheimer analyst Scott Schneeberger raised his price target on FedEx to $274 from $265 and reiterated his Outperform rating on shares ahead of the company's Q3 earnings release on March 20. In a research note to investors, the analyst said FedEx nappears to have executed well during 2017's peak season, delivering "strong" service levels as it seemingly achieved its operational and financial goals. Schneeberger anticipates continued segment margin expansion in Ground, and noted that the business environment for Express and Freight has been "favorable" considering strong international air freight and Less Than Truckload market conditions. The analyst also said he is "incrementally conservative" on FedEx's overall operating environment and execution