BUZZ-J.P. Morgan cuts FedEx PT ahead of third-quarter results

J.P. Morgan cuts FedEx FDX.N PT to $323 from $372, still implying a 22% upside to stock's last close

Brokerage does not expect a material update for the spin-off of FedEx Freight; also says third-quarter results should largely meet expectations while persistent uncertainty from tariffs will likely push FY25 outlook to the low end of the previous $19-20 per share range

"There doesn't seem to be a rush to get involved with either parcel stock at this point given B2B activity remains soft and for FDX specifically we expect another tough quarter for Freight based on soft industrial activity and adverse weather in Q3" - brokerage

Co to report Q3 results on March 20

19 of 31 brokerages rate FDX "buy" or higher, 10 "hold" and 2 "sell"; their median PT is $326.50 - LSEG data

FDX was up 11.2% in 2024, while S&P 500 Transportation Index .SPLRCTRN was down 1.45%