UPS (UPS) Takeaways From Management Meetings - Wells Fargo
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Wells Fargo analyst Allison Poliniak-Cusic reiterated an Overweight rating and $193.00 price target on UPS (NYSE: UPS) after hosting Ken Cook, VP of Investor Relations, and Mike Hughes, Director of Investor Relations for virtual meetings with investors. The two key takeaways were 1) an increased focus on the SMB business has resulted in this business growing to 64% of US Average Daily volume growth and 2) focus on international business will increase going forward.
The analyst stated "We view its strategy favorably, as UPS International Package had strong volumes during COVID-19, with average daily volumes +21.9% yr/yr in Q4 20, coupled with B2C average daily volumes at +104.1% yr/yr. Outsized growth opportunity in International segments will continue to benefit the mix of business for UPS. Volume growth was understandably strong, and likely remains elevated."
Shares of UPS closed at $160.65 yesterday.
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