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Analysts Bump Up UPS Price Target Post Q3 Results

October 27, 2021 4:48 pm
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Analysts Bump Up UPS Price Target Post Q3 Results
  • Analyst firms update United Parcel Service, Inc. (NYSE:UPS) ratings and Price target after its Q3 results.
  • Raymond James analyst Patrick Tyler Brown raised the price target to $260 (an upside of 22%) from $240 and maintained a Strong Buy rating on the shares following the "solid" Q3 results. 
  • Brown sees industry tailwinds anchored by a shift toward e-commerce and a solid pricing landscape.
  • He believes the elixir of new management and new volume paradigm due to COVID is fueling an improved margin and free cash flow profile, possibly even beyond what UPS detailed at its recent analyst day, longer-term.
  • Loop Capital analyst Rick Paterson downgraded to Hold from Buy with an unchanged price target of $226 (an upside of 6%). 
  • The analyst cites the company's Q3 earnings beat and increased operating margin guidance but adds that while he is positive on all air freight stocks, after yesterday's 7% share price rally, the potential upside on UPS is "getting a little underwhelming in the near-term."
  • Oppenheimer analyst Scott Schneeberger raised the price target to $236 from $222 and maintained an Outperform rating on the shares. 
  • Schneeberger mentions that UPS's strategic objectives translated to favorable Q3 performance as adjusted EPS of $2.71 exceeded his estimate/consensus of $2.50/$2.55, respectively.
  • KeyBanc analyst Todd Fowler raised the price target to $250 (an upside of 17.7%) from $235 and maintained an Overweight rating on the shares. 
  • Fowler raised estimates to reflect current-quarter upside and a modestly higher-margin outlook. Overall, the analyst is "encouraged" by favorable near-term execution despite various cost headwinds, increasing his conviction around margin improvement and higher returns intermediately.
  • Morgan Stanley analyst Ravi Shanker raised the price target to $135 (a downside of 36%) from $130 and maintained an Underweight rating on the shares.
  • Stifel analyst J. Bruce Chan maintained UPS with a Buy and raised the price target from $224 to $241, suggesting a 13% upside.
  • Price Action: UPS shares closed lower by 2.69% at $212.21 on Wednesday.

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