Why UPS Stock Is in the Fast Lane Today
A well-regarded analyst is warming up to United Parcel Service (NYSE: UPS), and investors are taking notice. Shares of the transportation giant were up 4% as of 11 a.m. ET after UBS upgraded the stock from neutral to buy.
Shipping is a cyclical business, and UPS investors over the past year have gained first-hand experience of what a down cycle feels like. The company's shares have fallen nearly 30% in the last 12 months due to declining volumes and higher costs.
UPS failed to deliver for investors in the fourth quarter and provided disappointing guidance for 2024. The company also announced a new cost-cutting campaign, including job cuts, aimed at saving about $1 billion annually. It could also seek a buyer for some of its weaker-performing business lines.
Source Fool.com
United Parcel Service Inc. Stock
We see a rather positive sentiment for United Parcel Service Inc. with 13 Buy predictions and 1 Sell predictions.
With a target price of 162 € there is a slightly positive potential of 18.44% for United Parcel Service Inc. compared to the current price of 136.78 €.
