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
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 36.02% compared to the current price of 115.42 € for United Parcel Service Inc..
