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Fly News Breaks for February 10, 2020
Feb 10, 2020 | 06:50 EDT
UBS analyst Thomas Wadewitz upgraded FedEx to Buy from Neutral with a price target of $181, up from $167. The analyst notes that his favorable view for the stock is supported by low expectations for its earnings as well as the company's "visible" efforts to improve the B2C cost structure of its Express business, even though the visibility on the timing of its margin improvement remains "somewhat limited". Wadewitz adds that FedEx has "multiple potential levers" to drive margin expansion in Express, with an added "backdrop of likely stabilization" in the company's Ground business margins seen in FY21.
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