JPMorgan Chase & Co. Has Lowered Expectations for FedEx Freight (NYSE:FDXF) Stock Price

FedEx Freight (NYSE:FDXF) had its target price reduced by equities researchers at JPMorgan Chase & Co. from $160.00 to $149.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 33.16% from the stock’s current price.

FDXF has been the subject of a number of other research reports. Sanford C. Bernstein started coverage on FedEx Freight in a research note on Thursday, September 10th. They issued a “market perform” rating and a $133.00 target price for the company. Jefferies Financial Group started coverage on FedEx Freight in a research report on Tuesday, June 23rd. They set a “buy” rating and a $200.00 price target on the stock. BMO Capital Markets lifted their price target on FedEx Freight from $140.00 to $150.00 and gave the stock a “market perform” rating in a research note on Friday, June 26th. Citizens Jmp assumed coverage on FedEx Freight in a research report on Wednesday, July 15th. They issued a “market outperform” rating and a $190.00 price objective for the company. Finally, Citigroup initiated coverage on FedEx Freight in a research note on Wednesday, July 15th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, FedEx Freight presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.00.

FedEx Freight Stock Up 0.3%

NYSE FDXF opened at $111.89 on Monday. The company’s 50-day simple moving average is $129.68. FedEx Freight has a 12-month low of $107.67 and a 12-month high of $194.27.

Institutional Investors Weigh In On FedEx Freight

A number of large investors have recently made changes to their positions in FDXF. Birch Capital Management LLC bought a new position in shares of FedEx Freight during the second quarter valued at approximately $1,439,000. Maple Rock Capital Partners Inc. bought a new stake in FedEx Freight in the second quarter valued at $68,207,000. Kiltearn Partners LLP purchased a new position in FedEx Freight during the 2nd quarter valued at $1,727,000. State Street Corp purchased a new position in FedEx Freight during the 2nd quarter valued at $723,747,000. Finally, Engineers Gate Manager LP purchased a new position in FedEx Freight during the 2nd quarter valued at $2,244,000.

FedEx Freight Company Profile

FedEx Freight is a transportation and logistics company focused on less-than-truckload (LTL) shipping. It moves palletized and oversized freight that does not require a full truck, serving commercial, industrial and residential customers through scheduled pickup and delivery services.

The company offers time-sensitive and cost-conscious freight options, including FedEx Freight Priority and FedEx Freight Economy. Its services also include shipment tracking and visibility tools, freight pickup and delivery, cross-border transportation, and specialized solutions for shipments requiring additional handling or delivery coordination.

FedEx Freight primarily serves the United States, with transportation connections to Canada, Mexico and other international markets through the broader FedEx network.