Raymond James analyst Patrick Tyler Brown lowered the firm's price target on FedEx to $330 from $415 and keeps an Outperform rating on the shares. A meaningful strategic shift appears underway as management integrates Express and Ground under Network 2.0, intensifies cost discipline through DRIVE, tightens capex oversight, focuses exclusively on the parcel business after the Freight spin, and increases shareholder returns via buybacks and dividends, the analyst tells investors in a research note.
