FedEx price target lowered to $316 from $318 at Evercore ISI

Evercore ISI lowered the firm’s price target on FedEx (FDX) to $316 from $318 and keeps an Outperform rating on the shares. The firm is lowering its Q2, FY25 and FY26 estimates, but adds that with the likely outcome of the long-awaited strategic decision on the Freight business also likely forthcoming as part of the earnings release, Q2 results and the FY25 EPS guidance are “likely to take a backseat to the news (and structure) regarding Freight.”