Barclays downgraded UPS (UPS) to Underweight from Equal Weight with an unchanged price target of $120. The company’s near-term earnings could be pressured by a “still weak” parcel demand backdrop, but long-term pressures from Amazon (AMZN), non-union FedEx (FDX) competition and limited dividend growth “paint a relatively tough outlook” for UPS shares, the analyst tells investors in a research note. The firm cites the company’s long-term challenges for the downgrade to Underweight.
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