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No Amazon Worries for FedEx

Shares of FedEx (FDX) rose 2.77%, to $252.22, on Friday, thanks in part to an upgrade from Bernstein's David Vernon and his team. Vernon boosted his rating to Outperform and his price target to $290, writing that the shares are attractively valued and offer mid-teens earnings- per-share growth marking the "highest rate of return in company history," thanks to a strengthening global economy, rising interest rates, and strong business-to-consumer demand. It's the business-to-consumer part that may be most eye-catching for investors, as it's impossible to talk about shipping these days without talking about Amazon.com (AMZN). Vernon writes that FedEx has pulled back over worries about Amazon disruption and "hyperbole" about other, crowd-sourced delivery solutions.