Investments

FedEx will benefit from hundreds of millions of vaccine doses that will need delivery, Citi says

Updated 36 Min Ago

(This story is for CNBC PRO subscribers only.)

A FedEx delivery truck is seen on August 07, 2019 in Fort Lauderdale, Florida.

Once a Covid-19 vaccine hits the market it will need to be widely distributed, and companies like FedEx stand to benefit, Citi said Thursday while reiterating its buy rating on the stock.

In a note to clients titled "stars aligning" the firm raised its price target on the stock to a Street high of $235, which is about 17% above where the stock currently trades. The firm's prior forecast was $170.

Show More

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Close