UPS price target raised to $190 from $160 at Citi

Citi raised the firm’s price target on UPS to $190 from $160 and keeps a Buy rating on the shares. The analyst adjusted estimates for UPS ahead of the company’s Q4 results to account for a “somewhat more sluggish return” of market share as well as general softness in international. For 2024, the firm is also lowering estimates as it expects domestic margin headwinds to persist. However, parcel stocks screen well in early 2024 and UPS has an “interesting earnings growth recovery story,” the analyst tells investors in a research note.