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FDX Upgraded by Credit Suisse

By Market News Video Staff, Monday, November 29, 1:43 PM ET

FedEx (NYSE:FDX) was upgraded by Credit Suisse (NYSE:CS) today on the expectation that the company would perform well through 2013. FedEx was hiked from neutral to outperform, with Credit Suisse citing the potential for the company to benefit from a rebound in global industrial production. Credit Suisse raised its price target on FedEx from $98 to $111 per share.

At 10.12% of the portfolio, FedEx (NYSE:FDX) is the top stock in the iShares Dow Jones Transportation Average Index Fund (AMEX:IYT), trading 0.5% today. Union Pacific (NYSE:UNP) is the second-largest holding of the fund, at 9.99%, followed by C.H. Robinson Worldwide (NASDAQ:CHRW) at 8.36% of the fund.


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