UPS price target lowered to $118 from $124 at UBS

UBS analyst Thomas Wadewitz lowered the firm’s price target on UPS (UPS) to $118 from $124 and keeps a Buy rating on the shares. UPS’s in-line Q2 EPS reflected favorable execution managing down costs in Domestic Package, but the forward outlook appears more challenging because the impact to domestic SMB customers who may have sourced goods from China is unclear, the analyst tells investors in a research note.