FedEx's stock price rose 15.52% overnight to $296. Previously, the company provided performance guidance that exceeded Wall Street's expectations and stated that it would repurchase $2.5 billion in stocks over the next year. The company expects an adjusted earnings per share of $20-22 for the fiscal year 2025, with an estimated capital expenditure of $5.20 billion and analyst expectations of $5.55 billion. After the performance was released, JPMorgan Chase upgraded FedEx's rating to "overweight", while Bank of America reiterated its buy rating for FedEx and raised its target price from $340 to $347.