UPS (NYSE:UPS) Troubles Continue as Outlook Sours
Market News

UPS (NYSE:UPS) Troubles Continue as Outlook Sours

Story Highlights

UPS slides once more after analysts come out in force against the beleaguered parcel carrier.

We thought things were bad for parcel delivery giant UPS (NYSE:UPS) yesterday when it announced layoff plans but still couldn’t make the share price needle budge. But now, it’s actually worse. UPS shares are down over 1.5% in Wednesday afternoon’s trading, as the outlook for UPS going forward isn’t sitting well with analysts.

The latest reports feature multiple price target cuts, as analysts from Bank of America Securities, Goldman Sachs, JPMorgan, and Morgan Stanley all dropped their share price expectations, and those were just for starters. Moreover, some even took to cutting the rating outright; Argus analysts cut from Buy to Hold and added insult to injury by noting that the next few quarters of growth for UPS would be “…tepid at best.” John Eade with Argus followed that up by noting that UPS has “disappointed” on earnings per share figures previously and likely would continue with “…slow growth at best in 2024.”

Is UPS a Buy, Sell, or Hold?

Turning to Wall Street, analysts have a Strong Buy consensus rating on UPS stock based on five Buys and six Holds assigned in the past three months, as indicated by the graphic below. After a 19.62% loss in its share price over the past year, the average UPS price target of $171.82 per share implies 20.67% upside potential.



Price Change
S&P 500
Dow Jones
Nasdaq 100

Popular Articles