UPS price target raised to $157 from $153 at Oppenheimer

Oppenheimer raised the firm’s price target on UPS to $157 from $153 and keeps an Outperform rating on the shares following quarterly results. Balancing revenue growth conservatism vs. initial second half of 2024 contribution from UPS’s new USPS contract benefit, the firm is maintaining its 2024 estimates. Oppenheimer is increasing its 2025 outlook on about $1.5B of full-year USPS revenue contribution.