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These Analysts Revise Price Targets On FedEx Following Q2 Results

Published 21/12/2022, 16:56
© Reuters.  These Analysts Revise Price Targets On FedEx Following Q2 Results
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Benzinga - FedEx Corporation (NYSE: NYSE:FDX) posted upbeat earnings for its second quarter, while sales missed expectations.

FedEx reported fiscal second-quarter revenue of $22.8 billion, which missed average analyst estimates of $23.74 billion. The company reported quarterly adjusted earnings of $3.18 per share, which beat estimates of $2.83 per share.

The company also said it sees FY23 earnings of $13.00 to $14.00 per share, versus analysts’ estimates of $14.08 per share.

These analysts made changes to their price targets on FedEx after the company released quarterly results.

  • JP Morgan cut the price target on FedEx from $184 to $179. JP Morgan analyst Brian Ossenbeck maintained a Neutral rating on the stock.
  • UBS boosted the price target from $215 to $225. UBS analyst Thomas Wadewitz maintained the stock with a Buy.
  • Credit Suisse (SIX:CSGN) slashed the price target on the stock from $213 to $211. Credit Suisse analyst Ariel Rosa maintained the stock with an Outperform.
  • Susquehanna raised the price target from $165 to $170. Susquehanna analyst Bascome Majors maintained FedEx with a Neutral.
  • Evercore ISI Group slashed the price target on the stock from $202 to $196. Evercore ISI Group analyst Jonathan Chappell maintained FedEx with an Outperform.

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© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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