- UBS analyst Thomas Wadewitz lowered FedEx Corp's FDX price target to $380 (implying an upside of 47.2%) from $397 and maintained a Buy rating on the shares.
- Wadewitz says cost pressures expected to show up in Q1 results and related to ground hub ramp up and incentive comps are likely to be transitional, but headwinds from a tight labor market could persist.
- Recently, FedEx and salesforce.com, inc. CRM announced a new multi-year partnership to deliver fast and easy shipping, end-to-end e-commerce, and supply chain management.
- Price Action: FDX shares are trading higher by 0.24% at $259 during the premarket session on Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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