UPS price target raised to $100 from $95 at Morgan Stanley

Morgan Stanley analyst Ravi Shanker raised the firm’s price target on UPS to $100 from $95 and keeps an Underweight rating on the shares. While the broad long-term targets presented at the company’s investor day were “largely consistent with expectations,” the path laid out to get there, relying on outsized pricing-driven revenue growth and M&A, was “likely not,” raising questions on the achievability of the targets, the analyst tells investors. While the firm says it appreciates the fact that management “did not slash-and-burn on costs to get to their target like some other companies in this space,” this may have left the Street disappointed as $1.38B of implied incremental cost-cutting through 2026 was “at least half of what the bogey was.”