As previously reported, BofA analyst Ken Hoexter downgraded FedEx (FDX) to Neutral from Buy with a price target of $240, down from $245, as the firm accounts for increased pressure on volume and costs following the end of U.S. de minimis exemptions. International Priority & Economy packages represent 17% of FedEx’s revenue and the removal of the de minimis exemption is expected to result in a muted air peak season in 2025, according to the analyst, who lowered the firm’s fiscal Q1, FY26 and FY27 EPS estimates 7%, 6%, 7%, respectively.
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