Stephens analyst Reed Seay lowered the firm’s price target on UPS (UPS) to $86 from $92 and keeps an Equal Weight rating on the shares. UPS continues to wind-down its volumes from Amazon (AMZN) and expects a 30% decline year-over-year in both Q3 and Q4, notes the analyst, who expects continued pressure among SMBs and B2B customers due to macro headwinds. The firm would prefer FedEx (FDX) over UPS, the analyst added.
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