Analysts bullish on FedEx stock ahead of earnings

FedEx will report its fiscal third-quarter earnings on Thursday. Analysts are generally optimistic, with 12 out of 15 rating the stock as a "buy." The average price target is over 30% higher than its recent closing price. Expected adjusted earnings per share are $4.64, a 20% increase from last year, while revenue is projected to rise 1% to $21.97 billion. This follows a trend of declining revenue in eight of the last nine quarters. Morgan Stanley has an "underweight" rating and a $200 price target, citing a solid peak season but limited demand growth. FedEx shares have fallen 5% in the past year, closing last week at a one-year low.