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"We expect the international business to continue to improve, driven by secular e-commerce growth and the company's investments in Europe," said analysts at William Blair.
Potential disruption of UPS by Amazon.com, Inc. (NASDAQ: AMZN)'s shipping service appears to just be a minor distraction.
"We continue to believe it will be not much more than a blip on the radar due to the density required to make e-commerce deliveries profitable on a large scale and increasingly more e-commerce activity from other retailers," William Blair continued.
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The investment bank is still expecting a "decent peak season," as UPS continues to improve its route density through several initiatives. The analysts highlighted four key catalysts for UPS moving forward:
- Peak looks healthy.
- Internal initiatives continue to drive better density and profitability.
- Growth opportunity in Europe.
- Amazon not expected to have a noticeable impact, at least in the near term.
"We recommend investors purchase shares at current levels and note theCompany's 3 percent dividend yield for those seeking yield," said William Blair.
William Blair has an Outperform rating on UPS.
At time of writing, UPS was trading at $108.66, up 0.94 percent on the day.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.