On Thursday Citigroup analysts raised the price target on FedEx Corporation (FDX) as improving international presence and cost plan should benefit the company.
The analysts now see shares of FDX reaching $116, a +16.5% upside to Wednesday’s closing price of $99.54. Citigroup maintained its “Buy” rating on FedEx.
FedEx shares were flat during pre-market trading on Thursday. The stock is up +10.15% over the past year.
The Bottom Line
Shares of FedEx (FDX) have a .56% dividend yield, based on last night’s closing stock price of $99.54. The stock has technical support in the $92-$94 price area. If the shares can firm up, we see overhead resistance around the $100-$103 price levels.
FedEx Corporation (FDX) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.