BofA lowered the firm’s price target on UPS (UPS) to $91 from $98 and keeps a Neutral rating on the shares after President Trump’s executive order suspending de minimis access for all U.S. imports went into effect last Friday. Shipments of de minimis volumes fell quickly with the suspension of de minimis from China and Hong Kong, notes the analyst, who lowered the firm’s target multiple for UPS given near term volume pressure and cost impacts.
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