FedEx price target lowered to $260 from $275 at BMO Capital

BMO Capital lowered the firm’s price target on FedEx (FDX) to $260 from $275 and keeps a Market Perform rating on the shares. The stock is heavily weighted to B2B freight, and in light of the transformational costs savings being realized, FedEx is likely well positioned for when demand recovers, though in the immediate term, demand is underperforming typical seasonality and there is limited visibility into an inflection point amid significant macro and trade policy related uncertainty, the analyst tells investors in a research note.