FILE PHOTO: A Federal Express delivery truck is shown in downtown Los Angeles, California, U.S., October 24, 2018. REUTERS/Mike Blake
The profit warning and weak quarterly results have resulted in a slew of price target cuts, with Morgan Stanley cutting to $148 from $156, as the full year forecast cut was much bigger than expected and implied a tough fourth quarter. J.P. Morgan expects “turbulence” in the near future and has downgraded the stock to “neutral” from “overweight”, cutting its price target to $202 from $227.
“Mix pressures and labor cost inflation are mounting faster than anticipated at Ground... We are increasingly concerned operating margins in percent terms will be pressured even if Ground can lower costs fast enough to grow operating profit in dollars,” J.P. Morgan analyst Brian Ossenbeck said in a note.
It's because Amazon got smart and started their own airline. By 2022 they will feel the real pain as Prime Air will be at full strength.
Where’s realDonaldTrump and the GOP ? Wasn’t the GOP TaxScam gonna catapult the economy forward? LiesTold; LiesKept
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