Susquehanna analyst Bascome Majors lowered the firm’s price target on UPS to $135 from $160 and keeps a Neutral rating on the shares. The firm said the trade down to lower-priced domestic products weighed on 2Q profits and the full-year outlook. Despite a meaningful cut, guidance still implies a meaningful super-seasonal 2H lift, even considering idiosyncratic support form the USPS contract and the Estafeta acquisition.
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