FedEx (NYSE:FDX) EPS Estimates Raised by UBS (NYSE:UBS)

Analyst Coverage

After a second look at FedEx (NYSE:FDX), UBS (NYSE:UBS) said it appears the company will reach its targeted 10 percent EBIT margin goal faster than expected, resulting in UBS raising their earnings per share on the company.

UBS said, "We recently spent three days hosting FedEx IR with investors in Australia, and while disclosures were consistent with FedEx’s recent investor day, conviction levels around the degree of operating leverage still in the model and speed at which FedEx may reach its 10% EBIT margin goal were impressive. After subsequently reevaluating our own forecasts we’re taking our EPS estimates above consensus...Raising estimates above consensus: F2012 $6.50 vs. $6.25 Street."

FedEx closed yesterday at $85.63, dropping $0.24, or 0.28 percent. UBS has a price target on them of $111, increasing it from $105.