FedEx: Deeper & Bolder DRIVE Needed
BMO Equity Research IN Tune
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FedEx's Turnaround Plan Does Not Go Far Enough
The industry is becoming more fragmented. Amazon is now bigger than FedEx and UPS. And e-commerce deliveries are becoming increasingly a bigger portion of packages. So while FedEx is attempting to close the productivity gap relative to UPS, it is not clear to us that this strategy will lead to sustained improvement in margin for the ground segment over time because of these factors.
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