FedEx (FDX) is on the move.
Not only did the company just announce a $1.5 billion accelerated share buyback program, the company has seen several analysts increase price targets.
Argus for example just raised its price target to $285 from $270, with a buy rating. Credit Suisse raised its target to $336 from $330. JP Morgan raised its price target to $312 from $305. Stephens raises its price target to $345 from $330.
Even better, after a slight pullback from its 200-day moving average, the stock caught support around $257.67. If it can break resistance at its 200-day moving average on its next try, shares of FDX could potentially test $280 a share.