This morning, Citigroup lowered its price target on shares of FedEx (NYSE:FDX) to $87 after the company released disappointing full-year guidance. In the report, Citigroup lowered its EPS estimates to match, but maintained its buy rating.
Shares of FedEx were higher on Friday, picking up 1.9% so far.
And Goldman Sachs lowered its EPS estimates on shares of Hewlett Packard (NYSE:HPQ) through 2013 as earnings will be dragged down by macroeconomic trends that a new CEO will not be able to sidestep. With the lower earnings estimates, Goldman maintained its neutral rating and set a $24 price target.
Shares of HPQ were lower on the news, falling 5.6%.
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