Baird downgraded UPS (UPS) to Neutral from Outperform with a price target of $130, down from $160. The announcement that the company’s Amazon (AMZN) volume is dropping 50% by the second half of 2026 “introduces a new multi-year challenge and higher probability the relationship ultimately unwinds altogether,” the analyst tells investors in a research note. The firm says focusing on profitability over volume growth is a “sound long-term strategy,” but that UPS will have to “run even harder” to offset the Amazon impact. Baird expects the stock will be range bound as the company’s strategic and financial outlook settles.
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