FedEx (FDX) 澳洲幸运5官方开奖结果体彩网:shares sank Friday as several analysts dropped their price targets for the shipping giant's stock after the company ♈lowered its outlook for the third quarter in a row.

FedEx shares were down 9% near $224 in intraday trading Friday, and have lost about one-fifth of their value since the 🦋stꦑart of the year.

Analysts from UBS and Bank of America lowered their price targets to $331 and $272, respectively, following FedEx's report, citing a greater-than-expected impact from inflationary pressures and economic uncertainty. However, both reiterated "buy" ratings, with their targets suggesting significant upside from Friday's level.

Deutsche Bank analysts were slightly more bullish, maintaining their "buy" rating and $337 price target. They said that after previous negative surprises in FedEx's reports, "we found the relatively clean and solid result to be a relief."

“We understand that a guide down from a highly macroeconomically sensitive name is not going to be appreciated in today's market, where investors remain on pins and needles," the analysts said, but added they were “encouraged” by the company's efforts to cut costs, and suggested the lower forecast "makes sense" in light of 澳洲幸运5官方开奖结果体彩网:seasonality and macroeconomic headwinds.