UBS analyst Thomas Wadewitz lowered the firm’s price target on FedEx (FDX) to $331 from $350 and keeps a Buy rating on the shares. FedEx’s Q3 earnings report was largely in line with the firm’s forecast with only slight deviation in operating income in both the package and freight businesses, the analyst tells investors in a research note. FedEx’s comments were “constructive” regarding improvement in the pricing environment, UBS adds.
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