UPS price target lowered to $170 from $178 at Stifel

Stifel lowered the firm’s price target on UPS to $170 from $178 and keeps a Buy rating on the shares after the company hosted its first analyst day since 2021 and highlighted progress made on several strategic initiatives. The new multi-year outlook presented exceeded Street expectations, but back-end weighted targets that necessitate market recovery “may be optimistic, especially after 2023’s weak demand and labor challenges,” the analyst tells investors in a recap note. While investors will have to be more patient to see benefits accrue, the firm says it feels “good about UPS’ ability to execute,” the analyst added.