<div id="readability-page-1"><p>03:55 PM EST, 12/19/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:</p><p>We raise our 12-month target by $39 to $257, 13.3x our next-12-month EPS view, above FDX's historical forward three-year average of 13.0x and five-year average of 12.6x. We lift our FY 26 (May) EPS view by $0.45 to $18.45 and  FY 27  by $0.12 to $21.14. Q2 results show transformation progress with revenue up 7% Y/Y to $23.5B and adjusted EPS growing 19% to $4.82. However, a $1B annual headwind from global trade policy continues weighing on international operations. Multiple macroeconomic indicators signal a challenging environment, including manufacturing PMI contraction, declining industrial capacity utilization, and mixed consumer demand patterns. Air cargo capacity growth outpacing demand adds pricing pressure. Network 2.0 initiatives remain on track for $1B in permanent cost savings, and Federal Express margins grew 100 bps to 7.7%. The FedEx Freight spin-off scheduled for June 1, 2026 should unlock value. We maintain our Sell rating as macroeconomic headwinds limit upside despite operational improvements.</p> <p>MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.</p></div>

联邦快递

<p>CFRA 对联邦快递公司维持卖出评级，将 12 个月目标价上调至 257 美元。尽管运营有所改善，但全球贸易政策和航空货运能力增长等宏观经济挑战限制了上行潜力。联邦快递第二季度的业绩显示，收入增长 7%，调整后的每股收益增长 19%。网络 2.0 计划旨在实现 10 亿美元的成本节约，联邦快递货运的分拆计划定于 2026 年 6 月</p>

研究警报：CFRA 维持对联邦快递公司股票的卖出评级