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Fly News Breaks for July 16, 2018
FDX
Jul 16, 2018 | 06:24 EDT
UBS analyst Thomas Wadewitz downgraded FedEx to Neutral and lowered his price target for the shares to $256 from $183. With a large global Express business representing 55% of revenue and about 13% of revenue linked to Asia, FedEx is exposed to risk from tariffs and potentially slower trade activity, Wadewitz tells investors in a research note. The analyst sees limited visibility to near term margin expansion as the company is still ramping up integration with TNT in Europe.
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