Susquehanna lowered the firm’s price target on FedEx (FDX) to $340 from $345 and keeps a Positive rating on the shares. The firm updated its model following Q2 results and they believe the company has a constructive mid-term story to tell for the larger parcel RemainCo at its investor day in February which will be the next catalyst for shares, despite a lowered profit trajectory in the LTL SpinCo back in May.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FDX:
- FedEx Earnings Call: Strong Growth Amid Key Headwinds
- Midday Fly By: Nike reports Q2 beat, TikTok to sell U.S. unit
- Morning Movers: Oracle gains after reported deal for U.S. business of TikTok
- FedEx price target raised to $330 from $285 at Truist
- FedEx price target raised to $328 from $305 at Stifel