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These Wall Street Analysts Are Wary About Shares of UPS and FedEx. Here's Why.
A big Wall Street bank got more cautious about two U.S. shipping giants' shares today.
Bank of America analysts on Thursday downgraded both FedEx (FDX) and UPS (UPS), setting price targets on shares that were among the lowest on Wall Street.
The analysts cut their rating on FedEx to âneutralâ from âbuy,â trimming their target by $5 to $240, one of the lower ratings compiled by Visible Alpha and below the average above $269, though above recent prices. Their move on UPS was more dramatic, swapping a neutral rating for an âunderperformâ and setting an $83 target that is the lowest tracked by Visible Alpha and well below the mean near $107. Its shares were recently around $84.
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