FedEx (FDX) PT Lowered to $225 at UBS on 1Q Miss; 'TNT Issues + Soft Ground Margin Drive Downside 1Q & Lower F18 Guide'
UBS lowered its price target on FedEx (NYSE: FDX) to $225.00 (from $233.00) while maintaining a Neutral rating, following the company's first quarter earnings report.
Analyst Thomas Wadewits notes the company delivered first quarter earnings per share and revenue results below consensus projections driven fueled by 1Q impact from the cyber-attack, while management suffered challenges to operating leverage and TNT volume declines.