FedEx (FDX) PT Raised to $440 at BofA Securities

BofA Securities analyst Ken Hoexter raised the price target on FedEx (NYSE: FDX) to $440.00 (from $431.00) while maintaining a Buy rating.

The analyst commented, "FedEx is showing solid momentum in winning share and managing its costs and network transformation in what remains a volatile global trade backdrop. Following a solid Express-led beat, FedEx increased the midpoint of its F2026 EPS 7% to $19.30-$20.10; we are $19.85, from $18.90). The revised target range (from $17.80-$19.00) implies F4Q26 Adj EPS range of $5.39-$6.19 (we are $5.95, from $5.98). Chief Customer Officer Brie Carere noted FedEx posted its strongest quarter of profitable U.S. market‑share gains in over 20 years, led by disciplined B2B growth, improved service, and success at cross-selling its bundled Federal Express Corp (FEC) offerings. CEO Raj Subramaniam highlighted peak season execution was supported by the continued rollout of its Network 2.0 optimized facilities. FedEx expects 35% of volume of eligible volume will flow through ~400 optimized facilities in March, and ramp to 65% by next peak... We reiterate Buy and increase our PO to $440 (from $431) on FDX shares. We target 19.5x our F27e EPS, above its 12x-18x range, as it sees mid-teens op income CAGR (ex-Freight) through '29, momentum in its network integration, profitable share gains, yield discipline, and upcoming Freight spin. We increase F26/F27E EPS estimates 5%/2%, to $19.85/$22.55 from $18.90/$22.10."

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