FedEx price target lowered to $329 from $354 at Stifel

Stifel analyst J. Bruce Chan lowered the firm’s price target on FedEx (FDX) to $329 from $354 and keeps a Buy rating on the shares. High stakes transformation will be “top of mind” as investors look toward the fiscal Q4 report on Tuesday, says the analyst, who notes that the company enters “what’s likely the most significant stint of its Network 2.0 transformation,” which is one of three major operational overhauls taking place. The firm hopes to gain more insight into how the Express and Ground integration is faring, adds the analyst, who argues that while “the potential for disruption is meaningful, so too are the potential cost savings.”