BofA raised the firm’s price target on UPS (UPS) to $150 from $132 and keeps a Neutral rating on the shares. Following the company’s Q3 report, the firm increased its Q4, 2024 and 2025 EPS estimates by 1%, 2% and 4%, respectively, and raised the multiple it applies to its 2025 EPS estimate to arrive at its price target The company moderated its revenue outlook to $91.1B, but led by its cost outs, it increased its FY24 group operating margin target to 9.6% from 9.4%, the analyst noted.
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