A driver pushes a dolly of boxes to load onto a FedEx delivery truck in Miami.
Scott McIntyre | Bloomberg | Getty Images
FedEx has a lot to prove to investors over the next few quarters, according to Oppenheimer.
The firm downgraded shares of FedEx to perform from outperform following the shipping company's earnings miss and dim outlook.
"With Express/Ground margins well below historical trend, we anticipate FedEx to be a 'show me' story for multiple quarters," Oppenheimer analyst Scott Schneeberger said in a note to clients on Wednesday.
