Stephens analyst Jack Atkins lowered the firm’s price target on FedEx (FDX) to $345 from $350 and keeps an Overweight rating on the shares. Fiscal Q2 results were “mixed,” but the earnings were highlighted by the decision to move forward with the spin of the FedEx Freight business, the analyst tells investors. The 18-month timeline is “longer than investors anticipated,” but the firm continues to believe the spin will create shareholder value and argues this “creates a favorable setup heading into calendar 2025.”
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