Stephens lowered the firm’s price target on FedEx (FDX) to $280 from $300 and keeps an Overweight rating on the shares. The firm, which says commentary at recent industry conferences suggests international demand has “underwhelmed expectations,” is lowering estimates “again” to reflect the ongoing macro challenges for FedEx’s parcel and less-than-truckload businesses, the analyst tells investors.
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Read More on FDX:
- FedEx price target lowered to $249 from $282 at Bernstein
- FedEx Faces Execution Risks and Volatility Challenges, Analyst Maintains Hold Rating with Lowered Price Target
- FedEx raises quarterly dividend by 5% to $1.45 per share
- JPMorgan cuts FedEx target, negative on shares into earnings
- FedEx price target lowered to $330 from $350 at Barclays
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