), while raising their estimates for the company. The target price for UPS is set to $79. According to Piper Jaffray, UPS is to announce its 2Q10 EPS on Thursday, July 22. “International airfreight volumes grew at a strong, accelerated rate likely throughout 2Q10 (June industry data has not been released – all signs in our opinion point toward very strong figures). This combination of stronger vols and price (industry utilization levels tracking near all time highs) we believe should drive vastly improved International Package results. Prior signals including asset additions by airfreight market participants suggest strong demand continues into 2H10,” the analysts say. “Prior cost savings and recent network modifications should start to enable UPS to open up Domestic Package's operating margins moving forward as volumes re-enter the network and UPS yields up parcel packages. Our operating margin assumption for 2Q10 remains sequentially flat vs. 1Q10 – partially a reflection of some one time network modification costs that go away in 2H10,” the analysts add. Piper Jaffray has raised its EPS estimates for 2010 from $3.19 to $3.34.