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Berenberg downgrades FedEx to hold from buy and cuts price target to US$275 from US$330, noting rising inflation risks and its unreliable execution history could overshadow company's recent CEO change and new strategy

Citigroup reiterates FedEx's buy rating with US$270 target, noting its targets, efficiency initiatives and long-term network goals are 'quite positive'; outlook for free cash flow growth 'should provide a stable floor for shares at the current multiple'

FedEx signs contract with Puerto Rico Ports Authority to extend operations at Rafael Hernandez International Airport in Aguadilla for 10 years to promote manufacturing distribution; carrier handles approximately 29% of total cargo capacity in Puerto Rico

FedEx's fiscal Q4 net income falls to US$558M from US$1.87B year-over-year as operating income rises to US$1.92B from US$1.80B, driven by revenue management actions and offset by lower shipment demand; revenue up to US$24.4B from US$22.6B

GM technology startup BrightDrop delivers 150 Zevo 600 EV delivery vans with 250-mile range to FedEx in Southern California; FedEx to add 2,500 Zevo 600s in next few years in move to all-electric fleet by 2040 to decarbonize last-mile delivery

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