UPS (UPS) PT Raised to $150 at Morgan Stanley After Strength Exgtended Through 2021
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Morgan Stanley analyst Ravi Shanker raised the price target on UPS (NYSE: UPS) to $150.00 (from $135.00) after the company reported Total Revenues of $27.771 bn, +11.5% vs. consensus of $27.061 bn and adj. 4Q EPS of $3.59 vs. $3.10 consensus.
The analyst reiterated an Underweight rating stating "2021 ended up being what 2020 should have been as the prolonged pandemic helped extend strong volume and pricing conditions with US margins making a 5-yr high. Extrapolating the result puts UPS on track to hit 2023 targets in 2022 though normalization h/w and AMZN + union risk remain concerns."
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