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FedEx stock looks cheap to J.P. Morgan

WASHINGTON (MarketWatch) — Investors may have oversold shares of FedEx Corp. in recent weeks amid anxiety over the direction of the economy, J.P. Morgan said Monday in a note to clients. J.P. Morgan lowered its fiscal-2012 earnings outlook for FedEx to $6 a share from $6.60, and cut its price target for the stock to $105 from $116. However, the investment firm added FedEx shares already trade …

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