Argus says UPS ‘finally turned the page, upgrades to Buy

Argus upgraded UPS (UPS) to Buy from Hold with a $150 price target. UPS, which has been experiencing a decline in revenue and earnings amid a soft environment that has weighed on package volume and been negatively impacted by reduced business from Amazon (AMZN) delivering more of its own packages, “appears to have finally turned the page on disappointing results,” the analyst tells investors. The company saw meaningful revenue and profit growth for the first time in over two years in the most recent quarter and the firm expects further growth going forward from the company’s win with the USPS and its growing healthcare logistics business, the analyst added.