B of A Securities Maintains Buy on FedEx, Lowers Price Target to $340
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Ken Hoexter maintains a Buy rating on FedEx (NYSE:FDX) but lowers the price target from $346 to $340.

April 02, 2024 | 11:30 am
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NEUTRAL IMPACT
B of A Securities maintains a Buy rating on FedEx but lowers the price target from $346 to $340.
The adjustment in price target by B of A Securities reflects a slight modification in their valuation assessment of FedEx, likely due to updated financial analysis or market conditions. However, maintaining a Buy rating indicates a continued positive outlook on the company's performance. The reduction in price target is relatively minor, suggesting that the overall investment thesis remains strong but slightly adjusted for new data. This could lead to a neutral short-term impact on the stock as investors digest the implications of the new price target against the backdrop of a sustained Buy recommendation.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 90