BofA lowered their price target on UPS to $112 from $118 and maintained a neutral rating. The adjustment comes after the UPS CFO spoke at a conference and indicated more pressure on Q1 results than previously expected. BofA ended up cutting their Q1 EPS estimate by 16% down to $1.01. The company's earnings profile for the year is now looking pretty back-end loaded, though management is still projecting roughly flat earnings for the full year. To balance out the weak Q1, BofA did bump their Q2 estimate up by 9% to $1.71.