JPMorgan Lowers FedEx Freight Price Target to $149 Despite Overweight Rating
JPMorgan Chase & Co. has lowered its price target for FedEx Freight (NYSE:FDXF) stock from $160.00 to $149.00 in a recent research report. Despite this reduction, the firm maintains an "overweight" rating on the stock. The new target price suggests a potential upside of 32.20% from the stock's previous close.
Other analysts have offered varying opinions on FedEx Freight. Citigroup initiated coverage with an "outperform" rating, while Jefferies Financial Group gave a "buy" rating and a $200.00 target price. Citizens Jmp also started coverage with a "market outperform" rating and a $190.00 price objective. However, Weiss Ratings downgraded the stock from a "sell (d+)" to a "sell (d)" rating, and Bank of America reduced its target price from $157.00 to $140.00 while maintaining a "buy" rating.
Currently, FedEx Freight has an average rating of "Moderate Buy" among analysts, with an average price target of $168.00. Shares of FDXF traded down $0.18 on Monday, reaching $112.70. The company's stock has a twelve-month low of $107.67 and a high of $194.27.
Institutional investors have also shown interest in FedEx Freight. State Street Corp, Maple Rock Capital Partners Inc., Allianz Asset Management GmbH, National Pension Service, and Diamond Hill Capital Management LLC all purchased new stakes in the company during the second quarter.