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Update: BofA Securities Adjusts Price Target on FedEx Freight to $187 From $185, Maintains Buy Rating

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(Updated to include BofA's commentary)

BofA Securities raised its price target on FedEx Freight (FDXF) to $187 from $185 following the company's Q1 earnings after spin-off from its parent.

The company introduced transition-period targets for June through December, expecting 4-6% revenue growth and adjusted EPS of $2.40-$2.60, analysts said, adding that Chief Executive John Smith said he is encouraged by demand trends, including improving ISM, truckload trends, and rate increases.

FedEx Freight has an average rating of overweight and mean price target of $172, according to analysts polled by FactSet.

Price: $147.33, Change: $-11.20, Percent Change: -7.06%

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