UPS price target lowered to $106 from $107 at JPMorgan

JPMorgan lowered the firm’s price target on UPS (UPS) to $106 from $107 and keeps a Neutral rating on the shares. The firm adjusted targets in the transportation and logistics group as part of a Q1 preview. Surface transportation rates are unlikely to revisit the lows of last year, the analyst tells investors in a research note. JPMorgan sees “more stocks to own than avoid” into the earnings reports. However, it is too early to expect positive earnings revisions pending more durable freight demand, the firm adds.