These Analysts Revise Price Targets On FedEx Following Q2 Results

FedEx Corporation FDX posted upbeat earnings for its second quarter, while sales missed expectations.

FedEx reported fiscal second-quarter revenue of $22.8 billion, which missed average analyst estimates of $23.74 billion. The company reported quarterly adjusted earnings of $3.18 per share, which beat estimates of $2.83 per share.

The company also said it sees FY23 earnings of $13.00 to $14.00 per share, versus analysts’ estimates of $14.08 per share.

These analysts made changes to their price targets on FedEx after the company released quarterly results.

• JP Morgan cut the price target on FedEx from $184 to $179. JP Morgan analyst Brian Ossenbeck maintained a Neutral rating on the stock.
• UBS boosted the price target from $215 to $225. UBS analyst Thomas Wadewitz maintained the stock with a Buy.
• Credit Suisse slashed the price target on the stock from $213 to $211. Credit Suisse analyst Ariel Rosa maintained the stock with an Outperform.
• Susquehanna raised the price target from $165 to $170. Susquehanna analyst Bascome Majors maintained FedEx with a Neutral.
• Evercore ISI Group slashed the price target on the stock from $202 to $196. Evercore ISI Group analyst Jonathan Chappell maintained FedEx with an Outperform.

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