UPS price target raised to $161 from $158 at Loop Capital

Loop Capital raised the firm’s price target on UPS to $161 from $158 and keeps a Hold rating on the shares after its “not as bad as feared” Q1 earnings. Year One of the new Teamsters contract in conjunction with the very weak freight economy has left UPS with a big profitability and earnings hole to climb out of, though labor cost inflation should “dramatically decelerate” in the August quarter while macro conditions hopefully create a path for normalizing freight demand, the analyst tells investors in a research note.