UPS price target raised by $10 at Oppenheimer, here’s why

Oppenheimer raised the firm’s price target on UPS to $168 from $158 and keeps an Outperform rating on the shares. The firm has recently conducted UPS investor meetings at Oppenheimer’s Industrial Summit. UPS is pursuing the recapture of a portion of its volume diverted to competitors during its Teamsters labor negotiation, which settled in July. The firm believes it’s progressing at a steady pace Q4-to-date, while also making strides in winning new volume. Ahead of its Q1 2024 Investor Day, UPS appears to be pursuing multiple automation and technological advancements, which should optimize its network flow and reduce expenses, Oppenheimer adds.