Street View: FedEx to face near-term cost pressures, brokerages say
** FedEx FDX.N said it is paying more to hire extra truckers — weakening margins in its core US express delivery segment in Q3; likely to hit harder in the holiday season quarter
** Shares down 1.8% to $299 premarket
FOCUS ON 2027
** J.P. Morgan ("overweight," PT: $400) expects near-term pressure amid uncertainty and weaker Q4 outlook, with no historical seasonality to support Q127 expectations
** TD Cowen ("buy," PT: $354) sees transitory costs as the primary pressure, expects it to continue into 2027
** Truist Securities ("buy," PT: $350) sees headwinds
as manageable; notes "the recovery of higher transportation costs through customer pricing will likely be gradual given contractual commitments"
** Jefferies ("buy," PT: $360) expects cost headwinds to largely abate by 2027; says underlying earnings trajectory remains intact