Story updated at 9:55 a.m. to reflect market activity.
Shares of FedEx fell 0.3% to $153.57 in morning trading.
The analyst firm also raised its EPS estimates for the delivery company through 2017. Credit Suisse increased its EPS estimates for full year 2015 to $8.86 a share from its previous estimate of $8.74 a share. The analyst firm now expects FedEx to report earnings of $10.67 a share for 2016 and $12.24 a share for 2017, up from $10.64 and $12.15, respectively.
Credit Suisse analyst A. Landry cited "a more favorable fuel price backdrop than we initially anticipated, and to a lesser extent, what appears to be a pick-up in the international airfreight market" as reasons for the EPS increases.
TheStreet Ratings team rates FEDEX CORP as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate FEDEX CORP (FDX) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows weak operating cash flow."