BofA analyst Ken Hoexter lowered the firm’s price target on FedEx (FDX) to $325 from $327 and keeps a Buy rating on the shares. FedEx is set to report fiscal Q2 results next Thursday, December 19, and the firm lowered its Q2, FY25 and FY26 EPS estimates 6%, 1%, and 1%, respectively, the analyst tells investors in a preview. The firm sees momentum in structural cost takeout and potential value unlock from its strategic review of FedEx Freight and expects FedEx to detail the next steps as it concludes its review, adding that it believes the market expects some form of an asset spin.
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