FedEx shares tumble over 15% on limp demand, delivery trade-down
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FedEx (FDX) PT Lowered to $308 at BofA Securities
September 20, 2024 9:36 AM EDTBofA Securities analyst Ken Hoexter lowered the price target on FedEx (NYSE: FDX) to $308.00 (from $345.00) while maintaining a Buy rating.
The analyst comments "FedEx's shares are bid down 11% or $33 in after hours trading as results missed targets as B2B volumes stalled on macro weakness (mix pressures on margins), DRIVE savings were lower than expected (it sees... More
