BUZZ-Daiwa Capital Markets raises FedEx PT after spin-off

Reuters12-25 00:54

** Daiwa Capital Markets raises FedEx FDX.N PT to $285 from $272 in a note dated Dec. 23; maintains "neutral" rating

** Brokerage says the PT raise reflects the finalization of the FDX Freight spin-off decision

** New PT represents about a 6% upside to the stock's last close

** FDX announced the much-anticipated spin-off of its freight trucking division on Thursday, as it restructures operations to focus on its core delivery business

** Up to the last close, stock up 6.3% YTD

(Reporting by Anshuman Tripathy)

((Anshuman.Tripathy@thomsonreuters.com))

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