UPS Stock Gains After Bullish Analyst Rating

October 14, 2021 8:54 AM | 1 min read | Make a Comment

Stifel analyst J. Bruce Chan upgraded United Parcel Service, Inc. UPS to Buy from Hold and raised the price target to $224 (implying an upside of 21.69%) from $210.
The analyst says that there is "a lot to like about the fundamental UPS story right now."
Despite tough comps, e-commerce continues to drive secular volume growth in the company's core small package unit, and continued yield management focus "is a boon in an environment with ample near term rate momentum," mentions the analyst.
He believes a "disciplined" capital allocation strategy has helped set UPS up to "deliver in an extremely tight operating environment."
Price Action: UPS shares are trading higher by 2.68% at $189 during the pre-market session on Thursday.