UPS - How FedEx Made 'A Solid Start to FY24': Analysts Dive Deeper Into Print Guidance | Benzinga
Shares of FedEx Corp (NYSE: FDX) spiked in early trading on Thursday after the company reported its quarterly results and gained market share.
The results came amid an exciting earnings season. Here are some key analyst takeaways from the earnings release.
Morgan Stanley On FedEx
Analyst Ravi Shanker maintained an Equal-Weight rating while raising the price target from $200 to $205.
Although FedEx reported an earnings beat of a healthy 20% for the fiscal first quarter, its "FY (unadj.) guidance was cut by 1% and FY (adj.) guidance raised by only 1% at the midpoint,” Shanker said in a note.
"Whether this is the ...