FedEx price target lowered to $310 from $330 at Raymond James

Raymond James lowered the firm’s price target on FedEx to $310 from $330 and keeps an Outperform rating on the shares following the “light” Q1 results and FY25 guidance that was tweaked lower. The firm says visible change is afoot as FedEx’s DRIVE initiatives continue taking hold likely driving better margins, earnings, and free cash flow in out years than appreciated, the analyst tells investors in a research note. In addition, the recent announcement of the Freight segment strategic review highlights management’s urgency to drive shareholder value, the firm says.