Stifel analyst J. Bruce Chan lowered the firm’s price target on FedEx (FDX) to $315 from $329 and keeps a Buy rating on the shares. The basics for FedEx are service and execution and with the company now embarked on several transformational initiatives aimed at restoring its historical margin profile, there are “significant potential benefits,” but it mustn’t lose sight of those basics, the analyst says in a post-earnings note.
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