Is Wall Street Bullish or Bearish on FedEx Freight Stock?

With a market cap of $19.6 billion, FedEx Freight Holding Company, Inc. (FDXF) is North America’s largest less-than-truckload (LTL) carrier, offering Priority, Economy and Direct services that help customers balance speed, cost and reliability. With a broad network supported by nearly 30,000 vehicles, 40,000 team members and more than 365 locations, the company uses operational efficiency and data-driven technology to deliver freight across North America.

Shares of the Memphis, Tennessee-based company have underperformed the broader market over the past month. FDXF stock has fallen 12.5% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 4%.

Looking closer, shares of FedEx Freight have lagged behind the State Street Industrial Select Sector SPDR ETF's (XLI) 2.3% decline over the past 52 weeks. 

Despite reporting better-than-expected Q4 2026 revenue of $2.4 billion on Jun. 25, FedEx Freight (FDXF) shares dipped 2.9% the next day, as operating income plunged 66.9% to $158 million, adjusted operating income declined 23.9% to $363 million, and operating margin fell to 6.6%. The quarter also showed weaker demand, with average daily shipments down 5.9% to 86.7 thousand, while the company’s 4.8% revenue growth to $2.4 billion was largely driven by fuel surcharges and higher weight per shipment rather than volume growth.

Investor concerns were compounded by incremental separation costs, higher wage rates and lower shipments, while the new seven-month outlook offered only 4% - 6% revenue growth and $605 million - $645 million of adjusted operating income.

For the fiscal year ending in December 2026, analysts expect FedEx Freight's EPS to drop 99.5% year-over-year to $5.48. 

Among the 12 analysts covering the stock, the consensus rating is a “Moderate Buy.” That’s based on seven “Strong Buy” ratings, one “Moderate Buy,” and four “Holds.” 

On Jun. 26, BofA raised its price target on FedEx Freight to $187 and maintained a “Buy” rating.

The mean price target of $173.75 represents a 30.9% premium to FDXF's current price. The Street-high price target of $200 suggests a 50.6% potential upside.