Feb. 3 at 11:07 AM
$FDX Upgrade Alert
Bernstein upgrades FDX → Outperform, raising PT
$306 →
$427.
Analyst highlights:
• Parcel remainco margins expected to rise 6% → 7–9%, aided by capacity cuts at UPS/FDX & network optimization in Europe
• Positive macro tailwinds: PMI +200bps margin expansion likely at Express business
• Small package market share gains continue
• LTL Freight EV could hit
$25–30B, adding ~
$100/share value
Valuation may understate full business value, offering a strong near-to-medium-term upside.