Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. UPS (UPS) downgraded to Hold from Buy at Deutsche Bank with analyst Amit Mehrotra saying UPS's capex guidance was worse than even the most bearish expectations. 2. Echo Global (ECHO) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Ravi Shanker saying he believes brokers like Echo deserve a "mid-teens multiple at best" as he thinks the mandate for electronic logging devices, or ELDs, will present a challenge to all brokers. 3. Ardagh Group (ARD) downgraded to Market Perform from Outperform at Wells Fargo with analyst Christopher Manuel saying he analyst now sees "limited capital redeployment options" for Ardagh over the next 24-36 months. 4. Acacia Communications (ACIA) downgraded to Neutral from Buy at MKM Partners and to Hold from Buy at DA Davidson and Needham. 5. Aegean Marine (ANW) downgraded to Hold from Buy at Stifel with analyst Benjamin Nolan saying the company's deal to buy the parent company of Hellenic Environmental Centers "takes the cake" in terms of questionable deals, adding "it is hard to even fathom how any transaction could possibly be worse." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

Loop Capital raised the firm's price target on UPS to $161 from $158 and keeps a Hold rating on the shares after its "not as bad as feared" Q1 earnings. Year One of the new Teamsters contract in conjunction with the very weak freight economy has left UPS with a big profitability and earnings hole to climb out of, though labor cost inflation should "dramatically decelerate" in the August quarter while macro conditions hopefully create a path for normalizing freight demand, the analyst tells investors in a research note.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

Unusual total active option classes on open include: ImmunityBio (IBRX), Halliburton (HAL), Redfin (RDFN), Nokia (NOK), Matterport (MTTR), General Motors (GM), UPS (UPS), Philip Morris (PM), PepsiCo (PEP), and General Electric (GE).

UPS says it is early in the process and will share progress on pension considerations when appropriate.

For 2024, UPS reaffirms its full-year, consolidated financial targets: Consolidated revenue to range from approximately $92.0 billion to $94.5 billion; Consolidated adjusted operating margin to range from approximately 10.0% to 10.6%; Capital expenditures of approximately $4.5 billion.