FedEx's freight spinoff plan to fortify core business, boost industry

FedEx's decision to spin off its freight truckload segment will strengthen the business while allowing the parcel delivery giant to better tackle challenges in its core operations, analysts said on Friday. FedEx Freight, the largest U.S. provider of less-than-truckload (LTL) services, could be valued between $30 billion and $35 billion, as per an estimate from Citi. Analysts have long argued that Freight was undervalued within FedEx, which has been slashing expenses and consolidating its express and ground operations in recent quarters.