FedEx Positioned As Largest Pure-Play North American LTL Carrier Post-Separation: Analyst

BofA Securities analyst Ken Hoexter reiterated a Buy rating on FedEx Corporation FDX, raising the price forecast to $348 from$325.Yesterday, the company reported adjusted earnings of $4.05 per share, beating the$3.91 consensus estimate. Quarterly revenue came in at $22 billion, missing the$22.11 billion analyst consensus estimate.FedEx now expects approximately flat revenue year-over-year, versus its prior forecast of a low single-digit percentage increase.The analyst mentions that CEO Raj Subramaniam hi ...