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United Parcel Service is downgraded to Hold with a $106.74 price target due to ongoing market and operational challenges.

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UPS said it took the step “out of an abundance of caution” and on the recommendation of the jet’s manufacturer.

United Parcel Service Inc. announced the immediate grounding of its McDonnell Douglas MD-11 aircraft fleet after a crash in Louisville this week killed more than a dozen people.

Shares of parcel delivery company UPS (NYSE:UPS) jumped 8.1% in the afternoon session after the company reported ...

The death toll climbed to at least 13 on Wednesday, Nov. 5, and several people remained unaccounted for, said Louisville ...

UPS said the grounding is “out of an abundance of caution” and will affect about 9% of its fleet, according to a statement.

The plane crash occurred Tuesday, shortly after takeoff from the Louisville Muhammad Ali International Airport in Kentucky.