The firm upped its price target on FedEx to $200 from $175. Oppenheimer also increased its full year 2015 earnings forecast by 34% to $9.05 per share, its full year 2016 earnings by 21% to $10.95 per share, and its full year 2017 earnings estimate by 12% to $12.25 per share.
Oppenheimer said it adjusted its numbers on the delivery service company based on FedEx's solid fundamentals, and its belief the company will benefit from lower fuel prices, as well as buybacks.
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Shares of FedEx are up by 0.19% to $180.38 at the start of trading this morning.
Separately, 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 revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company shows low profit margins."