UPS price target lowered to $100 from $120 at Barclays

Barclays lowered the firm’s price target on UPS (UPS) to $100 from $120 and keeps an Underweight rating on the shares post the Q4 report. The company’s meaningfully lower volumes from an accelerated Amazon (AMZN) “glide down” is likely to pressure its network density, suggesting margin headwinds could persist through next year, the analyst tells investors in a research note. The firm says UPS’s largest customer Amazon is set to cut volumes by 50% through next year. “Volume density is the name of the game and non-union competition from FedEx’s merging networks signals a challenging path for UPS margins,” it contends.