After FedEx met with a group of analysts this week to explain the retraction of its $1.2B-$1.5B Express operating improvement target and the reduction in FY19 a few weeks ago, Credit Suisse analyst Allison Landry said that the bad news is now out of the way for FedEx and appears to be priced in, but tells investors in a research note that the company remains a "show me story" and has its work cut out for itself to regain investor confidence. The analyst, who maintains an Outperform rating, says regaining confidence will likely require consistent execution for "at least the next couple of quarters," no further CapEx surprises and evidence that it "has a handle on costs" at Express.