Jesup & Lamont Boosts Target on FedEx (FDX) to $90
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This morning, Jesup & Lamont lifted its price target on shares of FedEx (NYSE: FDX) from $80 to $90. The firm maintains a Buy rating.
Jesup likes FedEx's recent announcement that it will dive into the India's service market, saying it is "hugely positive as we believe India will be a major growth market over the next five years or so." Further, the firm expects this year's peak shipping season to be slightly better than last year.
The firm is expecting FedEx to report Q2 EPS of $0.84, FY10 EPS of $3.42 and FY11 EPS of at least $4.05. The Street is currently looking for Q4, FY10 and FY11 EPS of $0.85, $3.15 and $4.33, respectively.
With shares of FedEx trading around $85.26 in the pre-market session, Jesup & Lamont's new price target represents upside of just 5%.
Visit our Analyst Ratings page to see all the analyst action on shares of FedEx.
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally.
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