FedEx (FDX) Soars 5.4%: Is Further Upside Left in the Stock?

Core Viewpoint - FedEx shares experienced a significant rally of 5.4%, closing at $353.43, attributed to higher trading volume and a 12.7% gain over the past four weeks [1][2]. Company Performance - FedEx is expected to report quarterly earnings of $4.06 per share, reflecting a year-over-year decline of 10%, while revenues are projected to be $23.46 billion, marking a 5.9% increase from the previous year [3]. - The consensus EPS estimate for FedEx has been revised 0.9% higher in the last 30 days, indicating a positive trend that may lead to price appreciation [4]. Analyst Upgrades - An analyst from Robert W. Baird & Co. upgraded FedEx to Outperform with a target price of $427, citing attractive valuation and strong growth prospects ahead of the planned spinoff of FedEx Freight [2]. Industry Context - FedEx operates within the Zacks Transportation - Air Freight and Cargo industry, where GXO Logistics, another player, closed 0.5% higher at $57.22 and has returned 4.1% over the past month [5]. - GXO Logistics' consensus EPS estimate has decreased by 3.2% over the past month to $0.83, representing a year-over-year decline of 17% [6].