BofA lowered the firm’s price target on FedEx (FDX) to $270 from $272 and keeps a Buy rating on the shares. FedEx signed a partnership deal with Amazon (AMZN) to handle some large, heavy packages with “cost favorability” versus UPS (UPS) and Chief Commercial Officer Brie Carere noted the deal will be financially accretive with yields and weights above system-average in its domestic market, the analyst tells investors after having hosted FedEx at the BofA Industrials, Transportation & Airlines Key Leaders conference. Following the meetings, the firm lowered its FY25 and FY26 EPS estimates 3% and 1%, to $17.70 and $20.75, respectively.
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