** Shares of FedEx FDX.N up 0.8% at $248.99 and rising for fifth straight session on Thurs with parcel delivery giant's fiscal Q3 results due after market close

** For qtr ended in Feb, analysts expect FDX to post adj EPS of $4.54, up from $3.86 a yr-ago, on rev of $21.9 bln compared to $21.7 bln in Q3 2024, per LSEG data

** In preview note on Tues, Citigroup lowered its PT to $317, saying as with much of the transports, investors seem fearful of potential impact of tariffs and increasingly concerned about downside risk to consumers and industrial activity

** Earlier this month, JP Morgan reduced its PT to $323, saying it expects another tough qtr for FDX's freight unit based on soft industrial activity and adverse weather

** In Dec, FDX announced the highly-anticipated spin-off of its less-than-truckload $(LTL)$ freight division as co seeks to focus on its core business to compete more profitability with delivery rivals like United Parcel Services UPS.N

** Of 33 brokerages covering FDX, recommendation breakdown is 21 "strong buy" or "buy", 10 "hold" and 2 "sell" recommendations; median PT of $316 implies ~27% upside to current levels

** Including move on the session, FDX shares down ~11.5% YTD vs nearly 1% advance in the S&P 500 Industrials .SPLRCI and ~8% drop in Dow Jones Transport Average .DJT

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))