- FedEx (FDX +6.9%) is rallying nearly 7% near the close after beating Q1 earnings and revenue estimates and raising its guidance for the full year.
- UBS reiterates its Buy rating and $215 price target on the shares, saying that while comparisons get more difficult looking further into FY 2017, volume and pricing trends remain stable and constructive for FDX.
- The firm believes that the solid quarter, along with the strong long-term potential FDX identified from TNT and the clear communication regarding adjustments, should support a positive response.