BofA Securities lowered its price target for FedEx Freight Holding Company to $140 from $157, while maintaining a Buy rating. The firm cited expectations of weaker shipment volumes and limited financial disclosures from the recently spun-off company.
For Q3 2026, BofA now forecasts shipment-per-day declines of 3.0%. Its previous estimate was 1.5% growth. For Q4 2026, it now expects a 1.0% decline. Its previous estimate was 1.5% growth.
BofA also cited uncertainty after the Chief Commercial Officer's departure in early September as a factor in the stock's recent underperformance.