Amazon’s stock surged 1.3% to close at $237.68 on Friday. It reached as high as $240.29 in intraday trading, which was above its Jan. 28 record close of $238.15. There appeared to be some worry among investors about how UPS’s bombshell announcement might impact Amazon’s business.

Baird analyst Garrett Holland changed his rating on the stock to Hold from Buy and cut his price target to $130 from $160.

A leading analyst has downgraded United Parcel Service (UPS) stock after the parcel giant revealed plans to slash the number of Amazon (AMZN)