At a 52-Week Low, This Underappreciated High-Yield Dividend Stock Can Provide Passive Income for a Lifetime
United Parcel Service (NYSE: UPS) stock has been hit hard in 2023 and is now down over 20% year to date following its third-quarter results which fell short of expectations. The sell-off has been particularly brutal within the context of UPS' historic run. On Jan. 7, 2022, UPS reached an all-time intraday high of $219.45. And now less than two years later, UPS stock finds itself down over 40% from that high.
Here's why UPS stock is out of favor, the reasons behind its weak performance, why UPS ultimately has what it takes to be an excellent source of passive income, and why now is a good time to buy this reliable dividend stock.
The outbreak of the COVID-19 pandemic weakened business-to-business deliveries. But it was a boon for business-to-consumer deliveries as folks were stuck at home and consumer spending soared.
Source Fool.com
United Parcel Service Inc. Stock
With 19 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
As a result the target price of 157 € shows a positive potential of 33.96% compared to the current price of 117.2 € for United Parcel Service Inc..
