J.P. Morgan Cut Target Price on FedEx Following Dismal Outlook

J.P. Morgan Cut Target Price on FedEx Following Dismal Outlook

Persistent weakness in its international business and global trade slowdown concerns have made analysts cautious about FedEx’s (FDX) near-term growth prospects. Therefore, several investment research firms have lowered their target price on the stock. On June 25, J.P. Morgan Chase (JPM) lowered its target price on the stock by $12 following the company’s disappointing earnings outlook for fiscal 2020.