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UPS In, FedEx Out For UBS

Published 18/07/2018, 09:36 pm
Updated 18/07/2018, 09:36 pm
© Reuters.

© Reuters.

Investing.com - UBS has upgraded UPS and downgraded FedEx (NYSE:FDX).

The Wall Street firm lowered its rating on FedEx to neutral, while trimming its stock price forecast 10% to $256 a share.

UBS said the shipper is "exposed to risks from tariffs", noting that 55% of FedEx's revenue comes from its Global Express business.

Meanwhile, UBS upgraded UPS to buy, and raised its price target about 3% to $125 a share.

The firm said UPS could generate "significant cost savings", which will improve domestic margins and operating income.

Shares in both firms are down in 2018. UPS is off about 8%. FedEx is down about 5%.

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