UPS Posts Q3 Beat, Cuts Revenue Outlook: ‘Manufacturing Needs To Recover For Uncertainty To Subside,’ Analyst Says
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United Parcel Service, Inc. (NYSE:UPS) Thursday reported its first revenue beat in 10 quarters.
The company reported its results amid an exciting earnings season. Here are some key analyst takeaways.
- Stifel analyst Bruce Chan maintained a Buy rating, while lifting the price target from $151 to $156.
- Bank of America Securities analyst Ken Hoexter reiterated a Neutral rating, while raising the price target from $132 to $150.
- Goldman Sachs analyst Jordan Alliger reaffirmed a Buy rating, while lifting the price target from $162 to $167.
Check out other analyst stock ratings.
Stifel: UPS generated revenues of $14.4 billion, up 5.8% year-on-year and “outperformed our model on better volume growth (6.5% vs. 5.0% est) and relatively in-line yield growth,” Chan said in a note. Adjusted earnings came in at $1.76 per share, beating Street expectations of $1.63 per share, he added.
“U.S. Domestic was a standout, with better volume growth on in-line rev/piece and better cost …
Full story available on Benzinga.com
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