UBS analyst Thomas Wadewitz lowered the firm’s price target on UPS (UPS) to $110 from $118 and keeps a Buy rating on the shares. The domestic package market was likely stable in Q3, and UPS is likely on track with their prior expectations of a low double digit decline year over year in domestic volumes in Q3 and stronger y/y growth in revenue per piece, the analyst tells investors in a research note. While uptake on their driver buyout program may be at the lower end of their expectations, UPS continues to push hard on the cost side with another 10 to 15 facilities removed from their network in Q3 in addition to the 74 taken out in 1H25.
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