BofA lowered the firm’s price target on UPS (UPS) to $177 from $190 and keeps a Neutral rating on the shares after UPS provided additional details on its 2023-2028 Teamsters contract. The firm, which has decreased its Q3, 2023, and 2024 EPS estimates, expects contract costs, international margin pressure, and Amazon (AMZN) volume drawdown to weigh on results.
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