Raymond James Remains Bullish On UPS - Read Why - United Parcel Service (NYSE:UPS)

Raymond James analyst Patrick Tyler Brown lowered the price target for United Parcel Service, Inc. UPS to $225 (23% upside) from $250 while maintaining a Strong Buy rating on the shares.
The analyst notes that the sharp decline in truck spot rates has continued to dominate headlines — as per data, it is estimated that current truck spot rates per mile have fallen all the way back to "peak" 2014 levels.
The analyst continues to see building industry tailwinds in the parcel complex anchored by consumers' sustained shift toward e-commerce and a strong pricing landscape.
Brown considers UPS one of the more unusual inflection tales in his coverage and wonders if the present elixir of new management and a new volume paradigm due to COVID is powering a better margin and FCF profile.
Price Action: UPS shares are trading higher by 2.30% at $182.38 on the last check Friday.
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Raymond James Remains Bullish On UPS - Read Why