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UPS price target lowered to $120 from $130 at Susquehanna

Susquehanna lowered the firm’s price target on UPS (UPS) to $120 from $130 and keeps a Neutral rating on the shares. The firm trimmed its UPS estimates into earnings season primarily on lower U.S. volumes and related operating leverage. The update comes following FedEx’s (FDX) guidance reduction earlier this month here and rising macro conservatism toward their forecasts across transports.

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