Market Overview

UPDATE: Jefferies & Company Reiterates Hold Rating, Lowers PT on FedEx

Related FDX
Will Union Pacific (UNP) Disappoint This Quarter? - Analyst Blog
Duke Realty Upgraded to Buy - Analyst Blog
Wall Street Poised to Extend Climb (Fox Business)

In a report published Wednesday, Jefferies & Company reiterated its Hold rating on FedEx Corporation (NYSE: FDX), but lowered its price target from $98.00 to $93.00.

Jefferies noted, “FDX beat downwardly-revised F1Q expectations, but guided the forward quarters lower on a continued modal shift toward slower, lower priced offerings; slowing global demand; and rising fuel prices. Our sense also is that October's analyst day may focus less on headcount reductions and more on SG&A cuts and network changes. This seems a bit less compelling to us.”

FedEx Corporation closed on Tuesday at $86.55.

Posted-In: Jefferies & CompanyAnalyst Color Price Target Analyst Ratings

 

Most Popular

Related Articles (FDX)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free