FedEx Crushes Earnings as Revenues Soar From Stay Home Economy and Bargain Fuel Prices

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FedEx upgraded to Overweight after earnings beat at JPMorgan

JPMorgan analyst Brian Ossenbeck upgraded FedEx to Overweight from Neutral with a price target of $188, up from $145.

The company last night posted a “solid” earnings beat in tough conditions while the investment thesis is simplified for an economic recovery without fiscal 2021 guidance, Ossenbeck tells investors in a research note. Ground’s margin gains appear supported by structural initiatives over the last year and Express weathered the collapse in business-to-business better than expected, says the analyst.