Following FedEx Corporation's (NYSE:FDX) DRIVE event in New York, several sell-side analysts upgraded the stock and increased their price targets. They argue that the event has provided greater visibility into transformational changes aimed at enhancing profitability and expanding margins. Raymond James upgraded FedEx to Outperform from Market Perform, citing expected improvements in margins, earnings, and free cash flow in the future.

The firm believes that FedEx's focus on integrating its primary Express & Ground offering, reducing costs, enhancing capital allocation scrutiny, and implementing a more shareholder-friendly capital return program will drive improved shareholder returns over time.

Meanwhile, Citi raised the price target on the stock to $285 from $275, noting that "one FedEx checks many boxes" and that the company delivered more than enough to attract new investors.