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Fly News Breaks for September 18, 2018
FDX
Sep 18, 2018 | 07:05 EDT
KeyBanc analyst Todd Fowler reiterated an Overweight rating and $290 price target on FedEx following the company's quarterly results. In a research note, Fowler raised his estimates for FY19 EPS to $17.50 from $17.30 and maintained his FY20 EPS estimate of $20.50 as current downside is offset by an improved outlook for expected revenue growth and margin improvement. He believes the cadence of FY19 earnings, along with expected improvement in Express profit, bodes well for earnings growth and margin improvement into FY20.
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