FedEx Stock Downgraded on Operational Underperformance

FedEx Corp (NYSE:FDX) stock is down 2% to trade at $237.44 at last check, after a downgrade from J.P. Morgan Securities to "neutral" from "overweight." The firm also lowered its price target to $274 from $284, with the analyst in coverage noting the high cost of separating the freight segment, as well as recent operational underperformance.Plenty of analysts lean bullish toward FDX, with 18 of the 30 in question rating it a "buy" or better before today's adjustments. Plus, the 12-month consensus target pric ...