MAY 25·finance.yahoo.comMed
FedEx sum-of-the-parts valuation points to upside as freight spin-off approaches, UBS says
UBS reiterated a Buy rating on FedEx (FDX) and set a $445 price target ahead of next week’s spin-off of its freight unit. The freight business will trade as FDXF starting May 27 (when-issued) and June 1 (regular). UBS’ sum-of-the-parts values FDXF at $213 and the remaining parcel unit (FEC) at $338, forecasting CY2027 EPS of $5.45 (FDXF) and $22.60 (FEC) and margin improvement.