Brokerages hike FedEx PT after Q3 profit forecast beats estimates
At least five brokerages lift PT on package delivery company FedEx FDX.N after co expects holiday-quarter adjusted profit to top Wall Street's estimates
FDX says earnings for its third quarter, ending February 28, will exceed analysts' consensus
TD Cowen says co is shifting more of its business toward high-margin segments such as data centers, healthcare, automotive and premium cross-border shipping, which should support better profitability even if overall growth stays moderate
Stephens notes FedEx is using new technology, AI and automation to make its network more efficient and modernize its operations
18 of 30 brokerages rate the stock "buy" or higher, 10 "hold" and 2 "sell"; their median PT is $352- data compiled by LSEG
As of last close, stock up 27.9% YTD
Brokerages | New PT | Old PT |
TD Cowen | $383 | $313 |
Stephens | $405 | $330 |
BMO | $400 | $290 |
Truist | $400 | $330 |
Deutsche Bank | $479 | $322 |
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