Analyst Christian Wetherbee of Wells Fargo maintained a Hold rating on FedEx (FDX – Research Report), reducing the price target to $275.00.
Christian Wetherbee has given his Hold rating due to a combination of factors impacting FedEx’s financial outlook. The macroeconomic environment presents significant risks, which have led to a reduction in earnings estimates for the upcoming quarters. Despite a strong December, adverse weather conditions and demand uncertainties related to tariffs have contributed to a cautious outlook.
Additionally, while there are positive developments in parcel pricing and FedEx’s Network 2.0 initiative, these are counterbalanced by signs of softening in the air cargo sector and increased Chinese tariffs. The LTL spin-off has potential value, but current market conditions and low expectations for freight results temper enthusiasm. Consequently, the price target has been adjusted downward, reflecting these mixed signals and uncertainties.
Based on the recent corporate insider activity of 62 insiders, corporate insider sentiment is neutral on the stock.