FedEx downgraded by Morgan Stanley after Q1 earnings miss
Morgan Stanley downgrades FedEx (FDX) from Equal-Weight to Underweight after the company's fiscal first quarter earnings miss sent shares reeling on Friday. Market Domination hosts Josh Lipton and Julie Hyman take a look at the analyst note from Morgan Stanley's Ravi Shankar and what it means for the postal carrier heading into the 2024 holiday season.
FedEx cites weaker than expected demand from manufacturers with many ditching priority shipping for cheaper options.
Hold rating with short-term gain potential, but long-term investment remains unattractive. Explore more details here.
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