UPS price target raised to $156 from $151 at Stifel

Stifel analyst J. Bruce Chan raised the firm’s price target on UPS (UPS) to $156 from $151 and keeps a Buy rating on the shares after adjusted EPS of $1.76 were ahead of the Street and the firm’s “more sanguine estimate” of $1.63 and $1.69, respectively, in what the firm calls “an important quarter for UPS.” Management promised a profitability and margin inflection in the second half of 2024 after “last quarter’s disappointment” and while the firm thinks “the company fulfilled its delivery guarantee,” Stifel adds “there’s still plenty of work ahead.”