BMO Capital keeps a Market Perform rating and $325 price target on FedEx but lowers the firm’s FY25 EPS view to $20.95 from $21.42 and its FY26 view to $24.39 from $24.75. The firm’s model update is reflecting the recent changes to segmented reporting as well as a softer macro backdrop, with FY25 guidance that assumes revenue growth in low to mid-single digit and EPS in the $20 to $22 range, the analyst tells investors in a research note, adding that the macro is likely more consistent with the lower end of the guidance range.
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