Fri Sep 20 13:11:22 UTC 2024: ## FedEx Stock Target Price Lowered by TD Cowen, but Analysts Remain Optimistic

**New York, NY (MarketBeat News)** – FedEx (NYSE:FDX) saw its target price reduced by research analysts at TD Cowen from $334.00 to $328.00, according to a note issued to investors on Friday. Despite the slight downward revision, TD Cowen maintains a “buy” rating on the shipping service provider’s stock.

The firm’s new target price suggests a potential upside of 9.19% from the stock’s current price.

While this adjustment may raise concerns, it’s important to note that the overall sentiment surrounding FedEx remains positive among analysts. Several other research firms have recently weighed in on the company:

* **Stephens:** Reaffirmed an “overweight” rating and set a $325.00 price objective on shares of FedEx.
* **Argus:** Raised their price target on FedEx from $325.00 to $335.00 and gave the company a “buy” rating.
* **Evercore ISI:** Lowered their price objective on FedEx from $339.00 to $335.00 but maintained an “outperform” rating.
* **Raymond James:** Cut their target price on shares of FedEx from $325.00 to $300.00 but still maintained an “outperform” rating.
* **Oppenheimer:** Reiterated a “market perform” rating on shares of FedEx.

Overall, the data from MarketBeat.com indicates an average rating of “Moderate Buy” for FedEx, with an average price target of $311.63.

This optimistic outlook comes amidst a mixed earnings report for FedEx. The company reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82. Revenue also fell short of expectations, clocking in at $21.58 billion compared to the consensus estimate of $21.87 billion. However, these figures are still significantly higher than the previous year’s results, suggesting the company is continuing to grow despite recent economic challenges.

While insider trading activity has been relatively low in recent months, with executives selling a combined total of 32,944 shares worth $9,882,355 over the past 90 days, institutional investors remain confident in FedEx’s future.

**Capital International Investors**, **Sentry LLC**, **Vanguard Group Inc.**, **Putnam Investments LLC**, and **Mawer Investment Management Ltd.** have all made significant investments in FedEx recently, with hedge funds and other institutional investors now owning 84.47% of the company’s stock.

Overall, despite the recent target price adjustments, analysts remain optimistic about FedEx’s long-term prospects. The company’s strong market position, growing global reach, and commitment to innovation continue to position it for success in the competitive shipping and logistics industry.

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