J.P.Morgan lowers FedEx PT citing USPS contract loss

** J.P.Morgan lowers PT on FedEx FDX to $296 from $301

** Brokerage expects management's FY25 guide will straddle consensus estimates with a muted growth outlook for next year

** "We modestly decreased our FY25 estimates to better reflect a number of headwinds, specifically the loss of the $1.6B USPS contract which has a disproportionate impact on F2Q25 where we are -7% below consensus" - JPM

** "Management should be able to offset this (USPS) contract loss over time but the impact of stranded costs on the network will likely be significant in Q2 FY25" - brokerage

** Twenty-one of 31 brokerages rate the stock "buy" or higher, nine "hold" and one "sell"; their median PT is $313

** YTD, FDX down 1.5%