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Raymond James Remains Bullish On UPS - Read Why

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·1 min read
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  • Raymond James analyst Patrick Tyler Brown lowered the price target for United Parcel Service, Inc. (NYSE: UPS) to $225 (23% upside) from $250 while maintaining a Strong Buy rating on the shares.

  • The analyst notes that the sharp decline in truck spot rates has continued to dominate headlines — as per data, it is estimated that current truck spot rates per mile have fallen all the way back to "peak" 2014 levels.

  • The analyst continues to see building industry tailwinds in the parcel complex anchored by consumers' sustained shift toward e-commerce and a strong pricing landscape.

  • Brown considers UPS one of the more unusual inflection tales in his coverage and wonders if the present elixir of new management and a new volume paradigm due to COVID is powering a better margin and FCF profile.

  • Price Action: UPS shares are trading higher by 2.30% at $182.38 on the last check Friday.

  • Photo Via Company

Latest Ratings for UPS

Date

Firm

Action

From

To

Feb 2022

Keybanc

Maintains

Overweight

Jan 2022

Exane BNP Paribas

Upgrades

Underperform

Neutral

Dec 2021

Citigroup

Upgrades

Neutral

Buy

View More Analyst Ratings for UPS

View the Latest Analyst Ratings

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