On September 21, FedEx declined 3.09% in regular trading, trading at $294.19/share, with turnover of $121 million. The drop came amid broad weakness in the Air Freight & Logistics sector, compounded by a fresh round of analyst target price cuts.
On the news front, Goldman Sachs lowered its target price on FedEx's independently listed subsidiary FedEx Freight from $186 to $171, while maintaining a buy rating. The downgrade adds to a string of recent estimate reductions across Wall Street. JPMorgan earlier slashed its target on FedEx from $460 to $400, Evercore ISI trimmed to $350, and Rothschild & Co Redburn cut to $329 from $344, reflecting a sustained contraction in valuation expectations for the logistics giant. The mean analyst target price for FedEx Freight stood at $168.31 according to FactSet.
The broader sector moved lower in tandem, with United Parcel Service down 3.46% and ZTO Express falling 7.63%, underscoring widespread pressure on freight and logistics names. Separately, FedEx and Advent International recently cleared the 80% acceptance threshold for their joint EUR 7.8 billion bid to acquire Polish parcel locker company InPost.
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