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Benzinga

Business

Akanksha Bakshi

Deutsche Bank Cuts FedEx's Price Target By 4%

FedEx Deutsche Bank FDX Amazon CNBC FedEx Corp Ground

FedEx Corp's (NYSE:FDX) price target has been lowered to $298 (an upside of 35%) from $310 by Deutsche Bank analyst Amit Mehrotra.
The analyst maintained his Buy rating on FDX's shares.
Related: Read How Analysts Reacted To FedEx's Q3 Results
Mehrotra noted the company reported weaker fiscal Q3 results, and management walked away from its double-digit margin target for Ground in the second half.
Also read: CNBC's Final Trades: Amazon, FedEx And These Health Care Picks
Price Action: FDX shares are trading higher by 0.85% at $220.78 on the last check Monday.

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