UPS - Is UPS Stock Going to $142? 1 Wall Street Analyst Thinks So.
2024-06-27 11:43:30 ET
An analyst at Evercore ISI recently lowered the price targets of UPS (NYSE: UPS) and FedEx (NYSE: FDX) ahead of the latter's fourth-quarter 2024 earnings report. Evercore's earnings estimates for both companies decreased over concerns about declining domestic demand.
FedEx's recent earnings are now in. Given what was reported, does Evercore's price target cut from $157 to $142 for UPS still make sense?
FedEx's earnings report was better than the Wall Street consensus estimate, and that bodes well for UPS. Revenue and earnings were slightly ahead of expectations, and the guidance for fiscal 2025 for low- to mid-single-digit revenue growth is positive. FedEx's management also expects volume demand to improve through the year.
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Is UPS Stock Going to $142? 1 Wall Street Analyst Thinks So.