The U.S. Department of Commerce’s Bureau of Industry and Security announced January 4 that FedEx Express (NYSE:FDX), Memphis, TN, has agreed to pay a $370,000 civil penalty to settle allegations that it committed six violations of the Export Administration Regulations relating to FedEx’s provision of freight forwarding services to exporters.BIS alleged that on two occasions in 2006, FedEx caused, aided and abetted acts prohibited by the regulations when it facilitated the attempted unlicensed export of electronic components from the United States to Mayrow in Dubai, United Arab Emirates.FedEx (NYSE:FDX) has potential upside of 15.8% based on a current price of $85.59 and an average consensus analyst price target of $99.08.
