UPS price target lowered to $124 from $145 at Stifel

Stifel lowered the firm’s price target on UPS (UPS) to $124 from $145 and keeps a Buy rating on the shares. Historically, UPS has been a low-beta stock, but the current environment “isn’t the most opportune for parcel industry operations” with protectionist trade policy as a headwind to trans-Pacific air cargo revenue and the added complexity of network realignment and a shift away from its largest, but low-yield and high cost-to-serve, customer in Amazon (AMZN), the analyst tells investors. However, the firm adds that it thinks UPS’ results this quarter are “a vote in favor of management execution.”