Package delivery giant FedEx Corporation (FDX) on Friday caught a big upgrade from analysts at Raymond James.

The firm said it boosted its rating on FDX from “Outperform” to “Strong Buy.”

FedEx shares, which have risen 6.4% since the beginning of the year, posted modest gains in premarket trading Friday.

The Bottom Line
Shares of FedEx (FDX) have a .59% dividend yield, based on last night’s closing stock price of $88.86. The stock has technical support in the $83-$85 price area. If the shares can firm up, we see overhead resistance around the $93-$95 price levels.

FedEx Corporation (FDX) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.