Bernstein on FedEx's (FDX) investor event: "Market may fade this event the way it faded the last investor day"

Bernstein analyst David Vernon on the upcoming DRIVE event: "We expect the stock to be grinding gears post the event, as we see a risk that ambitious cost savings targets are not going to be easily tied to expectations for earnings in Fiscal 2024. The market has grown used to haircutting ambitious FDX targets, and if the company can't clearly connect savings targets to earnings expectations then the market may fade this event the way it faded the last investor day."

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 $226.49 yesterday.

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