HSBC moves FedEx up to Buy and lifts target to $370
HSBC upgraded FedEx from Hold to Buy and raised its price target from $340 to $370 after a strong third quarter, Seeking Alpha reports.
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what happened
HSBC has moved FedEx to Buy from Hold and raised its price target from $340 to $370, Seeking Alpha reports. Analyst Deepak Maurya points to better pricing, a richer service mix and savings from the network overhaul as reasons earnings prospects are improving.
FedEx's third-quarter adjusted operating income climbed 16% year over year, 2% above consensus, and operating margin widened 20 basis points to 5.3%. HSBC raised its fiscal 2026-2028 operating income estimates by 3% and EPS forecasts by 4% to 10%, and expects fourth-quarter adjusted operating income to grow 34% year over year. The company bought back $2 billion of stock in the quarter and has $4.3 billion left under its authorization.
Risks flagged include softer business demand, pricing pressure and persistent US purchased-transportation inflation. Shares were trading about 3% higher on Thursday.
why it matters
The upgrade and higher target show analysts revising FedEx forecasts upward after a quarter of margin gains. Earnings growth expected to outpace revenue and ongoing buybacks support interest in the stock, though demand and pricing risks remain. A single broker rating change usually has only a short-lived effect on the share price.
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- HSBC upgrades FedEx to buy, raises PT to $370 — Seeking Alpha, 29 October 2026 at 17:44 UTC
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