By Dhirendra Tripathi
Investing.com – United Parcel Service (NYSE:) rose 1.7% Thursday after Citi (NYSE:) raised its target price to $200.
That new target is 12% above from the stock’s current level.
Citi analyst Christian Wetherbee retained his neutral rating for the stock.
According to him, the short term setup for UPS is quite constructive, with strong first quarter results followed by positive domestic trends to be discussed at the company’s June investor day.
“We have grown more positive on the prospects for parcel stocks this year as volume looks stronger than expected, providing durability to growth even against difficult comps, and this volume growth should sustain strong pricing power gained in the pandemic,” he wrote.
This could be the early end of a multi-year upcycle for domestic margins propelling earnings above current expectations, he said.
Credit Suisse (NYSE:) analyst Allison Landry on Wednesday maintained a buy on UPS, setting a price target of $215, which is approximately 20% above the present share price.
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