Redburn Atlantic upgraded UPS to Buy from Neutral with an $180 price target. The analyst believes UPS is at, or close to, trough revenue, volume, margin and share price levels. Key macroeconomic data is showing signs of improvement, which supports the expectation that UPS’s volumes will turn positive in Q2, the analyst tells investors in a research note. In addition, the firm says the company at its March investor day announced “compelling” three-year targets, focusing on returning to a 13%-plus EBIT margin via further headcount reduction, footprint consolidation and technology-enabled productivity.
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