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Evercore Analyst Downgrades FedEx Amid Demand Concerns Ahead of Q1 Earnings
Evercore Analyst Downgrades FedEx Amid Demand Concerns Ahead of Q1 Earnings
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BTCCSquare news:
Jonathan Chappell of Evercore ISI cut FedEx (FDX) to Hold from Buy, slashing his price target to $243 from $249. The MOVE comes ahead of the company's Q1 fiscal 2026 results on September 18, with Chappell citing "ongoing demand headwinds" that could pressure near-term earnings.
Wall Street anticipates modest growth, with EPS projected at $3.64 (up 1.1% YoY) and revenue at $21.7 billion (up 0.4% YoY). FedEx's cost-cutting measures may support earnings despite tepid top-line expansion.
August parcel data showed worse-than-expected industrial production and retail sales, prompting Chappell to reduce his FY2026 EPS estimate to $17.99 from $19.16. The analyst noted additional macro pressures from global trade normalization post-pandemic.
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