- The shares of FedEx Corporation (NYSE: FDX) have received a $245 price target from Morgan Stanley. These are the details.
The shares of FedEx Corporation (NYSE: FDX) have received a $245 price target from Morgan Stanley. And Morgan Stanley analyst Ravi Shanker is maintaining an “Equal-Weight” rating on the shares.
Shanker adjusted the rating ahead of FedEx’s earnings report. And Shanker noted that he is expecting the fiscal fourth-quarter results to be below the consensus as the noise of recent quarters is “likely to continue.”
But Shanker pointed out that anything short of a big miss may be good enough as investors are turning towards long-term targets at the analyst day between June 28 and June 29. Plus the disappointing FY23 guidance could deflate expectations going into the analyst day
However, Shanker believes the FY23 guidance will be normal and consistent with history.
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