2 Shipping Stocks Downgraded on End to Tariff Exemption
BofA Global Research downgraded both United Parcel Service Inc (NYSE:UPS) and FedEx Corp (NYSE: FDX) to "underperform" from "neutral," and to "neutral" from "buy," respectively. The brokerage also cut the former's price target to 91, while the latter saw its price objective lowered to 245. The analyst cited the ending of tariff exemptions for small packages.UPS was last seen up 0.2% at 82. The security has been struggling with overhead ...