UPS, FedEx stocks drop to pace transport losers after Morgan Stanley highlights Amazon Air risk [MarketWatch]
United Parcel Service, Inc. (UPS)
Last united parcel service, inc. earnings: 4/28 07:00 am
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Source: MarketWatch
UPS, FedEx stocks drop to pace transport losers after Morgan Stanley highlights Amazon Air risk Shares of United Parcel Service Inc. UPS, -6.16% sank 4.8% and FedEx Corp. FDX, -5.83% dropped 4.7% in morning trade Tuesday, to lead all 20 of the Dow Jones Transportation Average's DJT, -3.20% components in losses, after Morgan Stanley analyst Ravi Shanker cut its price targets on the package deliverers, citing concerns over competition from Amazon.com Inc.'s AMZN, -1.33% Amazon Air. Amazon's stock slipped 0.5%. Analyst Ravi Shanker cut his target on UPS to $87 from $92 at on FedEx to $230 from $240, as he believes "the market is missing the risk Amazon Air poses" to the companies. He kept his underweight rating on UPS and equal weight rating on FedEx. Although Amazon Air's rollout is still in the early innings, Shanker estimates a 200-to-300 basis point (2 to 3 percentage points) impact on UPS and FedEx domestic air volume growth already, with more erosion expected as Amazon
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News
- United Parcel Service: I See Persisting Profit Pressure Ahead [Seeking Alpha]Seeking Alpha
- United Parcel Service, Inc. (NYSE: UPS) had its price target raised by analysts at Bank of America Co. from $157.00 to $160.00. They now have a "neutral" rating on the stock.MarketBeat
- United Parcel Service, Inc. (NYSE: UPS) had its price target raised by analysts at BMO Capital Markets from $165.00 to $169.00. They now have a "market perform" rating on the stock.MarketBeat
- United Parcel Service, Inc. (NYSE:UPS) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- United Parcel Service, Inc. (NYSE: UPS) had its price target raised by analysts at Susquehanna from $150.00 to $160.00. They now have a "neutral" rating on the stock.MarketBeat
UPS
Earnings
- 4/23/24 - Beat
UPS
Sec Filings
- 4/23/24 - Form 8-K
- 4/11/24 - Form PX14A6G
- 3/27/24 - Form 4
- UPS's page on the SEC website