FedEx price target lowered to $300 from $335 at Argus

Argus lowered the firm’s price target on FedEx to $300 from $335 but keeps a Buy rating on the shares. The stock fell last week after the company’s Q1 earnings miss and guidance cut, but the weakness now “offers value” as FedEx management remains on track with its five-year plan, the analyst tells investors in a research note. The balance sheet remains solid, and the new management team has once signaled confidence in its outlook with a 10% dividend hike and an expanded share-repurchase program, the firm added.