SA: FedEx tracks higher after Barclays turns bullish

SEEKING ALPHA reports:

– Barclays upgrades FedEx (NYSE:FDX) to an Overweight rating after having it slotted at Equal Weight.

– The firm still sees growth opportunities for FedEx even as higher costs chip away at the bottom line.

– “Nonetheless, our focus is on future potential. We see an abundance of growth opportunities given the acceleration of ecommerce market adoption during the pandemic coupled with FedEx’s Ground network that provides the lowest cost final mile delivery of the large private US operators.”

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