1012 ET - FedEx's F3Q results were well above TD Cowen's forecasts, analysts from the firm say in a research note. The outperformance was driven by increasing volumes and yield growth, both of which bucked industry trends as the shipping company wins more high-quality business, the analysts say. "The volume and pricing strength that FDX posted in 3Q, despite multiple macro headwinds, speaks to the strength of the company's new initiatives," they write. Looking forward, FedEx raised its revenue guidance. The outlook includes "a modest degree of direct Middle East disruptions" the analysts say. However, they note the forecast doesn't appear to account for potential demand destruction, "which remains a downside risk for all transports." TD Cowen raises its price target to $426 from $383. Shares rise 1.8% to $362.44. (connor.hart@wsj.com)
(END) Dow Jones Newswires
March 20, 2026 10:12 ET (14:12 GMT)
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