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Fly News Breaks for January 27, 2016
FDX
Jan 27, 2016 | 07:43 EDT
Stephens analyst Jack Atkins sees FedEx's new 25M share buyback authorization as an endorsement of the company's belief that its long-term earnings prospects are being materially undervalued. While tough comps, weather and the macro environment make Atkins a bit cautious in the near-term, he said he still views FedEx as one of his favorite names over the next 12-24 months, citing its potential for peer-leading EPS growth, and keeps an Overweight rating and $195 price target on the shares.
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