UPS price target raised to $180 from $165 at Susquehanna

Susquehanna analyst Bascome Majors raised the firm’s price target on UPS to $180 from $165 and keeps a Neutral rating on the shares. The analyst said its operating outlook was mostly better than we’d feared, with our EPS cuts driven by below-the-line pension income. Susquehanna raised their target multiple on lowered 2023E trough EPS, but remain on the sidelines as risks from both macro and labor likely limit valuation upside through 1H.