FedEx price target lowered to $245 from $270 at BofA

BofA analyst Ken Hoexter lowered the firm’s price target on FedEx (FDX) to $245 from $270 and keeps a Buy rating on the shares after the company set a fiscal Q1 adjusted EPS target range of $3.40-$4.00, which is below the firm’s prior $4.08 forecast and implies EPS down 6% to up 11% year-year. FedEx refrained from providing a FY26 EPS outlook given uncertainty on trade policy and macro developments, marking the first time since 2020 it withheld a full-year outlook, the analyst noted. Following last night’s report, BofA lowered its Q1 and FY26 EPS forecasts 7% and 9% to $3.80 and $18.80, respectively.