Piper Jaffray Maintains Overweight Rating On United Parcel Service (UPS)

Analysts Matthew S. Brooklier and Reena E. Krishnan at Piper Jaffray have released an update on United Parcel Services UPS. On Wednesday, the Independent Pilots Association, which represents UPS’s 2,800 union pilots, announced that the company is going ahead with its prior plans to furlough at least 300 pilots with targeted cost savings of $244 million through 2015. Analysts believe that the move reflects the company’s commitment to streamline its global network. Analysts at Piper Jaffray have maintained their Overweight rating and $79 price target for United Parcel Service.