UPS price target lowered to $130 from $145 at Raymond James

Raymond James analyst Patrick Tyler Brown lowered the firm’s price target on UPS (UPS) to $130 from $145 and keeps a Strong Buy rating on the shares. Transports across the firm’s coverage have lamented about the extraordinary weather, which ultimately stunted demand in January and February and impacted freight movement, particularly in Southern states that have a lack of winter infrastructure to facilitate the safe movement of goods and people, the analyst tells investors in a research note. Raymond James says the freight economy in March has been worse than feared as truckload spot rates have been underperforming seasonality and tariff fears have become a reality.