UPS weakness a buying opportunity, says Baird

Baird analyst Garrett Holland said he would look to add to UPS on any further market weakness. The analyst said while demand continues to reset, and UPS’ labor contract negotiation represents an overhang for investors/shippers, nevertheless, we remain impressed by UPS’ flexibility in managing through volume pressure and disciplined investment in productivity initiatives. Baird maintains its Neutral rating and $183 price target on UPS shares.