Barclays Maintains an 'Overweight' on FedEx (FDX); Express the Linchpin; Fleet Restructuring an Incremental Positive

Barclays maintains an 'Overweight' on FedEx (NYSE: FDX) price target of $115.00.

Barclays analyst says, "Increasingly, the future of FedEx shares hinges on its Express segment. Freight is turning the corner and Ground performance has been exceptional. We now believe Express, still the largest segment, needs to deliver. We think today's fleet announcements are a step in the right direction. The changes bend the curve on growth in the Trans-Pac market, which we think has been dilutive, and should improve domestic network efficiency: We still think the guide implies a bit of acceleration in the current quarter and beyond, but we are still comfortable with our pre-existing estimates, which happen to be at the bottom end of the company's range."

For an analyst ratings summary and ratings history on FedEx click here. For more ratings news on FedEx click here.

Shares of FedEx closed at $83.47 yesterday.

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