Jefferies Raises 3Q Estimates on United Parcel Sevice

A report from Jefferies reiterates its Buy rating and $78 price target, and raises its 3Q estimates from $1.04 to $1.06 on United Parcel Service (NYSE: UPS).

The report states, “We continue to underscore that UPS is a domestic pricing (not volume nor macro) story. The company is undergoing a series of material corporate initiatives that we believe will substantially improve the company's earnings power over the next several years. In the near term, we acknowledge that many investors will take a waitand-see approach."

UPS closed yesterday at $69.35.