UPS deal headline figures better than bearish investors feared, says Jefferies

After it was announced by both UPS and the Teamsters that the two sides have reached a tentative agreement on a new five-year contract, Jefferies analyst Stephanie Moore said the “the headline figure investors will be looking for will be the new starting part-time wage,” which increases to $21 per hour and advances to $23 per hour over the next five years. The analyst, who thinks this number is “below what many more bearish investors had feared” and says the odds of a potential strike on August 1 are now diminished, has a Buy rating and $200 price target on UPS shares.