On July 9, Fedex Freight Holding rose 7.33% in regular trading, trading at $153.805/share, with turnover of $108 million. The stock significantly outperformed its Cargo Ground Transportation peers, which posted broad-based gains including Knight Transportation up 3.75%, Old Dominion Freight Lines up 3.38%, and JB Hunt Transport up 2.28%.

The rally comes amid continued momentum from the U.S. industrial recovery. The ISM Manufacturing PMI has posted consecutive positive readings in the first four months of the year, signaling the sector is emerging from a prolonged downturn. Analysts have noted that Fedex Freight, as North America's leading less-than-truckload carrier with extensive service center and hub networks, is well-positioned to capture rising freight demand. Bank of America recently raised its target price on the stock to $187, reflecting an improved outlook following the company's June 1 spin-off from FedEx. The company has also guided for adjusted diluted EPS of $2.4 to $2.6 for the seven months ending December 31, while pursuing growth in high-margin verticals including data center infrastructure, fresh grocery, and healthcare.

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