(Updates with the analyst's commentary.)
BofA Securities raised its price target on FedEx (FDX) to $414 from $408 while maintaining its buy rating.
The brokerage said FedEx conditionally agreed to acquire 37% stake in Polish parcel delivery provider InPost.
InPost provides solutions through a network of 61,000 automated parcel locker sites across Europe and digital services for e-commerce, BofA said in its note.
FedEx has an average rating of overweight and mean price target of $332.08, according to analysts polled by FactSet.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 366.91, Change: +2.36, Percent Change: +0.65