FedEx (NYSE:FDX) has got approval for its expansion plans in Memphis.

FedEx Gets Expansion Go-Ahead

A Memphis City Board has given FedEx (NYSE:FDX) approval to expand in Bluff City.

The shipping giant wants to move all of its training facilities to Memphis, and the shipping giant plans to spend more than $140 million to do it.

The project will consolidate FedEx (NYSE:FDX)’s entire pilot training program into one facility and is expected to be completed in 2016.

FedEx (NYSE:FDX) shares were at 95.00 at the end of the last day’s trading. There’s been a 15.5% movement in the stock price over the past 3 months.

FedEx (NYSE:FDX) Analyst Advice
Consensus Opinion: Moderate Buy
Mean recommendation: 1.32
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: 1.32
Zack’s Rank: 1 out of 7 in the industry