UBS lowered the firm’s price target on FedEx to $311 from $333 and keeps a Buy rating on the shares. FedEx’s EPS was much worse than expected for Q1, with the new Federal Express division the largest driver of downside with EBIT about $315M below the firm’s forecast, the analyst tells investors in a research note. The large downside Q1 makes it difficult for the firm to model a sharp enough ramp to achieve the new full year guidance, UBS says.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FDX:
- FedEx Q1 much weaker than expected, says Barclays
- FedEx downgraded to Underweight from Equal Weight at Morgan Stanley
- FDX Earnings: FedEx Stock Plunges 11% on FY25 Guidance Cut
- Closing Bell Movers: FedEx slumps 11% on earnings miss, guidance cut
- FedEx says Q1 demand environment was weaker than expected
Questions or Comments about the article? Write to editor@tipranks.com