New for subscribers: Here's how FedEx shares can double to $500, according to Citi Check out CNBCPro today.
to double its share price in three years are not "extreme," Citi analyst Christian Wetherbee said Friday in a note to clients.on the top and bottom lines for its fiscal first quarter. The stock has gained 60% this year as the pandemic increased demand for home deliveries. Wetherbee said there are three keys to the stock moving significantly higher.
''It's possible that we're at the front end of a multi-year pricing cycle in parcel that could be transformative to both FedEx and UPS. If we are, there is a reasonable bull-case in which FedEx's share price can double to $500," the note said.
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