FedEx shares are trading lower after the company reported worse-than-expected Q1 financial results and cut FY25 guidance. Also, Baird maintained an Outperform rating on the stock but lowered its price target from $340 to $320.
Portfolio Pulse from Benzinga Newsdesk
FedEx shares declined following disappointing Q1 results and a reduction in FY25 guidance. Baird maintained an Outperform rating but lowered the price target from $340 to $320.
September 20, 2024 | 11:31 am
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NEGATIVE IMPACT
FedEx shares fell due to worse-than-expected Q1 results and a cut in FY25 guidance. Baird maintained an Outperform rating but reduced the price target from $340 to $320.
The negative Q1 results and reduced FY25 guidance are likely to impact investor sentiment negatively, leading to a short-term decline in FedEx's stock price. The lowered price target by Baird, despite maintaining an Outperform rating, further supports the negative outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100