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Fly News Breaks for March 20, 2019
FDX
Mar 20, 2019 | 07:23 EDT
BMO Capital analyst Fadi Chamoun lowered his price target on FedEx to $215 after its disappointing Q3 results and lowered FY19 earnings outlook, with operating margin also impacted by "weaker demand and unfavorable revenue mix alongside higher costs". The analyst is keeping his Outperform rating on FedEx shares however, expecting its ongoing automation investments and network infrastructure to drive unit costs lower. Chamoun also sees the continued integration of TNT to help ramp the company's revenue and earnings "over the medium term".
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