Wells Fargo raised the firm’s price target on FedEx to $225 from $185 and keeps an Equal Weight rating on the shares ahead of the Q3 earnings report. The structural cost out is ongoing, but volumes trends and seasonality are sizable headwinds to Q3, the analyst tells investors in a research note. FY24 EPS growth may receive a lower multiple, keeping the firm cautious.
Published first on TheFly
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