JPMorgan lowered the firm’s price target on FedEx (FDX) to $285 from $290 and keeps an Overweight rating on the shares. The firm is taking a negative view on the shares into the company’s earnings release on September 18. JPMorgan sees downside risk to fiscal Q1 estimates from “stagnant” business-to-business demand, worsening business-to-consumer trends and tariff pressures. These should create a lower base to start the year and bring negative earnings revisions, contends the firm.
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