Fri Sep 20 13:11:20 UTC 2024: ## FedEx Downgraded by HSBC, Analysts Remain Divided on Shipping Giant’s Future

**NEW YORK, NY** – FedEx Corporation (NYSE: FDX) saw its stock rating downgraded from “buy” to “hold” by HSBC on Friday, according to a report by Briefing.com. The move comes amidst a mixed outlook for the shipping giant, with analysts showing varied opinions on the company’s future performance.

HSBC’s price objective for FedEx is set at $300.00, suggesting a potential downside of 0.13% from the company’s current price. While other analysts, including Robert W. Baird and TD Cowen, maintain “outperform” and “buy” ratings respectively, Raymond James and Evercore ISI have lowered their price targets.

Overall, the stock currently boasts an average rating of “Moderate Buy” with an average price target of $311.63, according to MarketBeat.com.

FedEx’s recent earnings report, released on Thursday, September 19th, showed a miss on analysts’ expectations for the quarter, with earnings per share coming in at $3.60 against a consensus estimate of $4.82. The company’s revenue also fell short of expectations, reaching $21.58 billion compared to the anticipated $21.87 billion.

Meanwhile, insider transactions have seen several executives selling shares in recent months. Notably, EVP Robert B. Carter sold 16,010 shares in June, and CAO Guy M. Erwin II sold 116 shares in July.

Institutional investors have also been active in the stock. Fortis Group Advisors LLC, Scarborough Advisors LLC, Central Valley Advisors LLC, Security National Bank, and Abound Wealth Management all made changes to their positions in FedEx during recent quarters.

FedEx remains a major player in the transportation and e-commerce industries, operating through its FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The company’s future performance will likely depend on its ability to navigate a challenging economic environment and maintain its position in the rapidly evolving shipping landscape.

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