UPS Gets Rare Sell Call on Rising Competition From Amazon, FedEx
- Barclays downgrades stock, now third broker with sell rating
- Earnings will continue to be under pressure from weak demand
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United Parcel Service Inc. received a rare sell recommendation as Barclays expressed concern on the shipping giant’s earnings ahead of third-quarter results later this week.
Analyst Brandon Oglenski downgraded the Atlanta-based company to underweight from equal-weight, noting likely near-term risk to earnings from continued weakness in parcel demand as well as longer-term challenges stemming from a potentially “smaller relationship” with Amazon.com Inc. and more competition from rival FedEx Corp.