FedEx Corp. (NYSE: FDX) is a leading international provider of package delivery, and one key analyst thinks that now might be a good time to buy in. Argus sees FedEx as favorably positioned considering recent business moves, with about a 25% upside from current prices.

Argus has a Buy rating with a $180 price target for FedEx. The reasoning behind this rating was that this large-cap blue-chip Industrial company has been benefiting over the past three years from strong domestic economic growth. The company’s well-respected management team continues to plow cash back into operations, which Argus thinks sets the stage for future efficiencies and margin improvement.

The company is also in the early stages of modernizing its fleet of aircraft to more fuel-efficient models that require less maintenance, and that could also help boost margins. Argus also expects the recently announced acquisition of TNT Express, if approved, to enhance the company’s competitive position in Europe. After a slide related in part to recent market volatility, the shares are trading near the low end of their 52-week range, but the firm sees momentum for additional earnings surprises and stock market gains.

On September 15, the company announced it will be raising the shipping rates for the FedEx Express, FedEx Ground, and FedEx Freight by an average of 4.9%. This policy will be in effect starting January 4, 2016. FedEx is also increasing surcharge rates for FedEx Ground that exceed the published maximum weight or dimensional limits.

Back in April, the company announced its plans to acquire Dutch-based parcel services company TNT Express for 8 euros per share in an all-cash deal, representing a 33% premium to the April 2 closing price. The transaction represents an implied equity value of $4.8 billion. The deal is still subject to approval by EU regulators. If approved, this deal would enhance FedEx’s position in the European delivery market.

FedEx already has a sizeable air express delivery operation in Europe, but is lacking a solid ground delivery business. FedEx did not report costs related to the pending acquisition on their earnings statement as they were immaterial for the quarter. The estimated closure of the deal is for the first half of calendar 2016.

Shares of FedEx were down 2% at $143.11 on Tuesday afternoon. The stock has a consensus analyst price target of $185.25 and a 52-week trading range of $130.13 to $185.19. FedEx shares have underperformed the market over the past quarter, falling 17.7% while the S&P 500 has declined 4.8%. Over the past year, the shares have also underperformed, with a loss of 2.7% versus a 0.3% decrease for the S&P 500.

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