Citigroup Raises Price Target on FedEx (FDX)
On Thursday Citigroup analysts raised the price target on FedEx Corporation (FDX) as improving international presence and cost plan should benefit the company.
The analysts now see shares of FDX reaching $116, a +16.5% upside to Wednesday’s closing price of $99.54. Citigroup maintained its “Buy” rating on FedEx.
FedEx shares were flat during pre-market trading on Thursday. The stock is up +10.15% over the past year.
The Bottom Line
Shares of FedEx (FDX) have a .56% dividend yield, based on last night’s closing stock price of $99.54. The stock has technical support in the $92-$94 price area. If the shares can firm up, we see overhead resistance around the $100-$103 price levels.
FedEx Corporation (FDX) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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