Stifel analyst J. Bruce Chan lowered the firm’s price target on UPS to $151 from $170 and keeps a Buy rating on the shares after the company reported Q2 adjusted EPS that missed consensus and the firm’s estimate. While Stifel says it “knew that this quarter wouldn’t be a stellar one,” Ground yields were “materially below our expectations,” the analyst tells investors. The firm still sees opportunity at current valuation, but “the market is changing fast and UPS might need to get more nimble,” the analyst added.
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