Wells Fargo analyst Christian Wetherbee lowered the firm’s price target on FedEx (FDX) to $275 from $320 and keeps an Equal Weight rating on the shares. The firm is lowering estimates ahead of Q3 results. While Wells thinks there is a building parcel pricing story and the LTL spin is positive, macro risk is more pronounced now vs. first half of 2025. Estimates likely fall through previews, which could improve the set up, it adds.
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