UPS price target raised to $169 from $165 at BMO Capital

BMO Capital raised the firm’s price target on UPS to $169 from $165 and keeps a Market Perform rating on the shares. The company’s Q1 results were above consensus driven by tempered expectations for U.S. Domestic business heading into the print, and its volumes are trending better, reflecting both commercial execution and stabilizing/improving demand environment, the analyst tells investors in a research note. BMO is also raising its FY24 EPS view by 7c to $8.32 and its FY25 view by 9c to $10.20.