UPDATE: Deutsche Bank Downgrades UPS (UPS) to Hold

November 29, 2021 6:20 AM EST
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Price: $203.76 --0%

Rating Summary:
    20 Buy, 15 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 12 | Down: 15 | New: 17
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(Updated - November 29, 2021 6:22 AM EST)

Deutsche Bank analyst Amit Mehrotra downgraded UPS (NYSE: UPS) from Buy to Hold with a price target of $221.00 (from $253.00).

The analyst comments "The bottom line is we believe the upcoming contract negotiation between UPS and the Teamsters has potential to be the most tumultuous since the 15-day UPS work stoppage in 1997....with UPS likely to take a tough stance in light of a relatively small Teamsters strike fund, and new leadership at the Teamsters looking to extract more value for its members. This makes FDX shares more attractive over the next 12-18 months, in our view, given its non-union employee base and a cost structure that better reflects real-time labor inflation. Downgrade UPS to Hold from Buy."

For an analyst ratings summary and ratings history on UPS click here. For more ratings news on UPS click here.

Shares of UPS closed at $205.30 yesterday.

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