Pulse of The Market: Tuesday’s 10 Worst Performers

6. United Parcel Services Inc. (NYSE:UPS)

United Parcel declined by 5.05 percent on Tuesday to end at $109.95 after Bank of America downgraded its price target for the company.

In its market note, Bank of America cut its price target for UPS by 3 percent to $129 from $133 previously, still a 17-percent upside from the company’s last closing price. However, it maintained its Buy rating on its shares.

Additionally, the investment firm reduced its earnings per share target for the first quarter of the year, now to $1.31 from $1.55 previously on the back of weak volumes and tariff uncertainties.

Further aggravating the sentiment was its peers’ dismal earnings performance and missed estimates in the fourth quarter of the year.

Last week, UPS counterpart FedEx posted an EPS of $4.51, lower than the $4.56 targeted by analysts. Still, its revenues ended at $22.2 billion, topping the $21.9 billion that analysts had called for.