UPS (UPS) PT Raised to $241 at Stifel

October 27, 2021 6:48 AM EDT
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Price: $208.06 -0.2%

Rating Summary:
    20 Buy, 14 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 2 | New: 5
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Stifel analyst J. Bruce Chan raised the price target on UPS (NYSE: UPS) to $241.00 (from $224.00) while maintaining a Buy rating.

The analyst commented, "Two weeks ago, we upgraded UPS on the basis of a strong industry backdrop, with structural capacity tightness driving yield momentum, and a disciplined pricing rubric and capital allocation strategy to go along with it (Exhibit 1). Moreover, we posited that careful labor and network management would result in a much better labor cost and operational disruption experience than close-peer FedEx (Exhibit 5). With the 3Q21 print, UPS delivered...and then some, in our view. EPS was $2.71, vs our estimate of $2.53 and the consensus $2.55 number. Yields were even stronger across the board than we anticipated. With management's guidance increase and the healthy outlook for the holiday season, we see a lot more that can go right for UPS in the coming months than can go wrong: though we take valuation discipline seriously, we feel comfortable increasing estimates here and maintain our Buy rating."

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