- FedEx Corp FDX reported its third-quarter FY22 results yesterday, with revenue of $23.6 billion, surpassing the $23.44 billion estimate, and adjusted EPS of $4.59, below the Street view of $4.64.
- Read how the analysts reacted to the Q3 results.
- Citi analyst Christian Wetherbee reduced the price target to $270 (an upside of 25%) from $300 while maintaining the Buy rating on the shares.
- Wetherbee states ground margins are unlikely to improve versus last year as FedEx closes out FY22.
- Meanwhile, Wetherbee believes FedEx's risk/reward is "skewed favorably."
- Related: FedEx Reports Q3 Revenue Growth Of ~10%, Expects Strong Earnings Growth In Q4
- Barclays analyst Brandon Oglenski lowered the price target FDX to $320 from $345 and maintained his Overweight rating on the shares.
- Oglenski notes the unchanged 2022 guidance suggests cost headwinds are finally waning.
- Wells Fargo analyst Allison Poliniak-Cusic decreased the price target on FDX to $277 (an upside of 28%) from $314 while maintaining the Overweight rating on the shares.
- The analyst believes that FedEx shares could come under pressure on Friday, reflecting ongoing concerns around its ability to leverage the current volume and yield environment.
- Also Read: Why FedEx Shares Are Sliding Today
- JPMorgan analyst Brian Ossenbeck lowered the price target to $282 (an upside of 30.6%) from $297 and maintained his Overweight rating on the shares.
- BofA analyst Ken Hoexter lowered the price target to $280 (an upside of 29.7%) from $297 while maintaining the Buy rating on the shares.
- Stephens & Co. analyst Jack Atkins reduced the price target on FDX to $285 (an upside of 32%) from $345 and maintained an Overweight rating on the shares.
- Morgan Stanley lowered the price target to $250 (an upside of 15.8%) from $260 while maintaining the Equal-Weight rating in the shares.
- Price Action: FDX shares are trading lower by 5.36% at $215.81 on the last check Friday.
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