As previously reported, Loop Capital downgraded FedEx (FDX) to Sell from Hold with a price target of $221, down from $283. On April 2nd, the Trump Administration is scheduled to unveil its comprehensive tariff strategy for global trade and FedEx’s brand is synonymous with global trade, the analyst tells investors in a research note. Loop adds that as economists ratchet up U.S. recession risk, the firm sees FedEx as a “really bad recession stock” because thin Express margins amplify the earnings hit whenever there’s pressure on the top line.
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