Deutsche Bank Raises PT From $90.00 To $93.00 And Reiterates Buy Rating On United Parcel Service (UPS)

In a recent report, Deutsche Bank has raised the price target on United Parcel Service UPS from $90.00 to $93.00 and reiterates a Buy rating after Q1 results show productivity gains and better network optimization. In the report, Deutsche Bank said, "In addition to leveraging an improving small parcel pricing environment, UPS has done a great job of improving employee productivity. In Q1, UPS improved productivity with U.S. domestic miles driven down 2% y/y, direct labor hours down 3% y/y, and domestic block hours down 1% y/y. We believe UPS is better leveraging its Package Flow Technology and Telematics systems, which aided the company's better-than-expected operating leverage." UPS closed yesterday at $74.37.