FedEx Stock Falls to 52-Week Lows on Gloomy Forecast

Core Viewpoint - FedEx Corp's stock is experiencing a significant decline, down 11.2% to $218.29, marking its lowest level since June 2023, following a fiscal third-quarter earnings miss and a third consecutive cut in profit outlook due to weakness in the U.S. industrial economy [1] Group 1 - The company reported a fiscal third-quarter earnings miss and cut its profit outlook for the third time, citing "continued weakness and uncertainty in the U.S. industrial economy" [1] - Analysts have reacted by slashing price targets, with J.P. Morgan Securities reducing its target from $372 to $323 and Loop Capital downgrading the shares to "sell" from "hold" [2] - The stock has fallen below recent support at $240 and is on track for its third consecutive weekly loss, with a year-to-date decline of 21.9% [2] Group 2 - Among the 33 analysts covering the stock, 21 still maintain a "buy" or better rating, with a 12-month consensus price target of $312.15, indicating a 41.4% premium to current levels [3] - The presence of a significant number of "buy" ratings suggests potential for recovery, although bear notes may pose short-term challenges [3]