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HSBC Moves FedEx to Buy and Raises Its Price Target to $370

HSBC pointed to pricing, a richer service mix and savings from FedEx’s network overhaul as support for its earnings view.

By Enna Lee
Published
An unmarked parcel rides a conveyor through a sorting hub / TokenPost.ai
An unmarked parcel rides a conveyor through a sorting hub / TokenPost.ai

HSBC moved FedEx to Buy from Hold and raised its price target to $370 on Oct. 29, pointing to pricing, service mix and savings from the company’s network overhaul.

The new target is $30 above the previous $340 level. HSBC cited those factors as support for its earnings outlook.

FedEx beat expectations in its latest quarterly report and lifted its full-year earnings outlook.

Enna Lee

Reporter

Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.

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