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FedEx: Citi sees 12% upside

Apr. 08, 2016 7:41 AM ETFedEx Corporation (FDX) StockFDXBy: Eli Hoffmann, SA News Editor
  • After a week of hosted meetings, Citi comes away bullish on FedEx (NYSE:FDX). Firm sees the following opportunities in the coming years:
  • TNT is a strong strategic fit, providing substantial accretion in F18 and beyond.
  • Express’ Profit Improvement Program has legs beyond F16.
  • Ecommerce will provide valuable growth in a still sluggish transportation market.
  • Citi says elevated capex of $5B/year is likely to continue, but that the investment is justified.
  • Price target $180. Implied upside 12%.
  • Now read FedEx May Not Lose To Amazon, The Competitor; But Has Surely Lost Amazon, The Customer »

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