** Stephens cuts PT on FedEx Corp FDX.N to $280 from $300, still premium of 23.5% to stock's last close; reiterates 'overweight' rating
** Lowers Q4 adj. EPS estimate to $5.58 from $6.24, reflecting ongoing macro challenges for parcel and less-than-truckload business
** Brokerage also cuts 2025 adj. EPS forecast to $17.75 from$18.41
** Expects demand headwinds to persist, but notes that recent fuel surcharge increase will mitigate revenue impact
** "Throughout fiscal 4Q we believe FDX's international demand weakened as a result of overall business uncertainty and tariff implications," Stephens says
** FDX shares marginally down at $226 in early trading
** 21 of 32 brokerages rate stock "buy" or higher, 8 "hold" and 3 "sell"; their median PT is $275 - data compiled by LSEG
** Including session's moves, shares down 19.6% YTD
(Reporting by Apratim Sarkar)
((Apratim.Sarkar@thomsonreuters.com))
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