Read How Analysts Reacted To FedEx's Q3 Results

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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