Is United Parcel Service Stock a Buy Now?
Share prices of United Parcel Service (NYSE: UPS) have dropped about 5% over the past decade. That makes it sound as if nothing has been going on at the company. However, that's not the case at all. In fact, the stock doubled in price between 2020 and 2022, only to lose all those gains. Here's why now could be a good time to buy UPS for more aggressive investors.
One of the first things investors need to grapple with is the massive price spike that began in 2020. The truth behind the numbers is that investor emotions are what drove UPS' price rally. The coronavirus pandemic had begun, consumers were stuck at home, and online shopping exploded. Wall Street extrapolated that temporary demand well into the future, bidding up the shares of package delivery companies like UPS.
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Source Fool.com
United Parcel Service Inc. Stock
Currently there is a rather positive sentiment for United Parcel Service Inc. with 44 Buy predictions and 7 Sell predictions.
As a result the target price of 104 € shows a slightly positive potential of 12.03% compared to the current price of 92.83 € for United Parcel Service Inc..
