FedEx (FDX) Stock: $282 Target And Overweight Rating

By Amit Chowdhry ● Jun 29, 2022
  • The shares of FedEx Corporation (NYSE: FDX) have received a $282 price target from Wells Fargo. These are the details.

The shares of FedEx Corporation (NYSE: FDX) have received a $282 price target from Wells Fargo. And Wells Fargo analyst Allison Poliniak-Cusic increased the price target on FedEx from $277 while maintaining an “Overweight” rating on the shares. 

Poliniak-Cusic adjusted the rating while noting that the fourth-quarter results were underwhelming and the guidance for 2023 surpassed expectations. And it appears that the fourth quarter faced additional headwinds which were largely centered in Ground. But Poliniak-Cusic noted that Ground’s results may have bottomed and the guidance does not appear out of step. 

FedEx reported a Q4 EPS of $6.87, which was $0.01 lower than the analyst estimate of $6.88. And the revenue for the quarter was $24.4 billion compared to the consensus estimate of $24.47 billion. In terms of guidance, FedEx expects a 2023 EPS of $22.50-$24.50, compared to the consensus of $22.41.

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