FedEx gains after Bernstein upgrades rating to 'outperform'

Shares of package delivery company FedEx FDX.N rise 2% to $341.97 premarket

Bernstein upgrades rating to "outperform" from "market perform"

Brokerage sees margins after freight division spin-off improving to a range of 7%-9%, supported by "domestic capacity reductions", focus on "improving Europe performance" and positive macro data

"Improving parcel fundamentals and the freight spin make the stock uniquely attractive in a market looking for cyclical exposure," says Bernstein

Brokerage raises PT to $427 from $306, representing a 27% upside to stock's last close

Of 30 brokerages tracking the stock, 17 rate it "buy" or higher, 11 "hold" and two "sell"; median PT is $317 - data compiled by LSEG

Shares up 2.6% in 2025