UPDATE: Stifel Resumes UPS (UPS) at Hold
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(Updated - June 21, 2021 4:34 PM EDT)
Stifel analyst J. Bruce Chan resumes coverage on UPS (NYSE: UPS) with a Hold rating and a price target of $210.00.
The analyst commented, "We are resuming coverage of UPS with a Hold rating and a $210 target price. Through much of its history, UPS painted itself (figuratively) as a respectable company, built on conservative American business values that reflected its customer base. It even painted itself (literally) in its trademark Pullman Brown color scheme to evoke the professionalism and class of Pullman rail cars of the era. UPS developed an almost obsessive focus on parcel network efficiency, exemplified by a dynasty of senior leadership with industrial engineering pedigrees. We think the global parcel market has changed considerably, led by the ecommerce megatrend. We see signs that UPS is responding, with new management and fresh approaches to pricing and service portfolio. It is still a behemoth, so it takes time to move the needle, but there are now more reasons to get excited about UPS, especially if we see a pullback in valuation."
Shares of UPS closed at $197.77 yesterday.
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