UPDATE: Baird Equity Research Reiterates Neutral Rating, Raises PT on United Parcel Service on Solid 3Q13 Operating Results, In-Line 4Q13 Outlook

In a report published Monday, Baird Equity Research analyst Benjamin J. Hartford reiterated a Neutral rating on

, and raised the price target from $100.00 to $102.00. In the report, Baird Equity Research noted, “Maintain Neutral rating, but growing more constructive. 3Q13 operating results ahead of expectations; 4Q13 outlook in line. Domestic and Supply Chain margins ahead of expectations, while International margins expanded normalizing for fuel/currency headwinds. Still awaiting an AF catalyst; however, we recognize that international yields are stabilizing, providing a potential catalyst for upside to International margins and the stock. Raising price target to $102; better buyers below $90 or on continued signs of firming International yield environment or strengthening macro.” United Parcel Service closed on Friday at $95.61.