United Parcel Service, Inc (NYSE: UPS) Received Price Target Upgrade by UBS UBS analyst Thomas Wadewitz has assigned a price target of $ 214 for UPS And he improved the Neutral to Buy rating
UPS released quarterly results today Company was able to exceed earnings expectations with increased door-to-door deliveries during pandemic Average daily US volumes increased 13%
« Our results were fueled by strong outbound demand from Asia and the growth of small and medium-sized businesses, » said Carol Tomé, general manager of UPS, in a statement.
In September, UPS announced it would hire more than 100,000 workers over the winter break The company’s net profit rose to about $ 2 billion (224 per share) for the quarter ended September 30 from $ 1 75 billion a year earlier Company revenues increased to $ 21 24 billion from $ 18 32 billion in the same period a year earlier
« Our performance demonstrates the agility of our integrated global network in the face of the ongoing challenges of the pandemic Our results have been fueled by strong outbound demand from Asia and the growth of small and medium-sized enterprises », added Tomé « UPSers are everyday heroes who drive global supply chains forward I want to thank our team for their continued commitment to our customers and the communities we serve »
« Our Better, not Bigger approach had a positive impact on our performance during the quarter, in particular thanks to the revenue quality measures we took In addition, we recently launched new initiatives to further reduce our costs, ”explained Brian Newman, UPS CFO “Looking ahead to the fourth quarter, we are collaborating with our customers and using our proven tools to control volume and ensure the resilience of our network. We are focused on achieving a successful peak and generating cash returns «
United Parcel Service, NYSE: UPS, Profits
World news – United States – UPS share: $ 214 Price target by UBS
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