We're Expecting FedEx (FDX) To Miss, But Is It Already In The Price? PT To $143 At Morgan Stanley

Morgan Stanley analyst, Ravi Shanker, reiterated his Equalweight rating on shares of FedEx (NYSE: FDX) and cut his price target to $143.00 (from $148.00) noting that the path to Express turnaround targets remains unresolved as "tariff limbo, industrial production / international macro softness, and TNT integration continue to cap results".

He stated "The big question into the print is whether the headwinds that have severely pressured 2H19 results will ease (as cons. expects) or intensify (as we expect) into FY20. We now expect FY20 EPS of $15.70 (adj for TNT costs), 6% below cons. of $16.73".

For an analyst ratings summary and ratings history on FedEx click here. For more ratings news on FedEx click here.

Shares of FedEx closed at $154.80 yesterday.

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