FedEx (FDX) PT Raised to $162 at Baird Following 4Q

Baird analyst Benjamin Hartford raised the price target on FedEx (NYSE: FDX) to $162.00 (from $140.00) while maintaining a Outperform rating following the company's 4Q earnings report. Adjusted EPS of $2.53 was above $1.58 consensus estimates. The upside was helped by both Ground and Express segment performance.

Forward consensus EPS estimates still need to reset lower, but for the first time in a couple years, Baird thinks momentum in the stock is beginning to turn. F2021 guidance was not provided, which is unsurprising given continued economic and COVID-related uncertainty.

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