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Fly News Breaks for February 23, 2018
FDX
Feb 23, 2018 | 09:00 EDT
As previously reported, Bernstein analyst David Vernon upgraded FedEx to Outperform from Market Perform and increased his price target to $290 from $257, saying he expects revenue and earnings growth to be driven by a strengthening global economy and rising interest rates, the tightening domestic transportation market and demand for B2C delivery. Vernon added that the company's capex "can't stay this high forever," but that it will stay high for a while, as he expects FedEx to "raise the capital ante again" in the next 12 months for its Memphis upgrade.
News For FDX From the Last 2 Days
FDX
Mar 26, 2024 | 20:34 EDT
Barclays analyst Brendan Lynch initiated coverage of Plymouth Industrial REIT (PLYM) with an Equal Weight rating and $22 price target. FedEx (FDX) is the REIT's second-largest tenant, and a July 2024 lease expiration for 770K sqf facility in St. Louis creates uncertainty, the analyst tells investors in a research note. The lease renewal appears to be dependent on FedEx separately renewing its dedicated service agreement with a company in an adjacent building, the firm added.