Bernstein raised the firm’s price target on UPS (UPS) to $179 from $172 and keeps an Outperform rating on the shares. The firm likes UPS as it has the best visibility to unit cost inflation. With less margin drag from the labor contract and mix, Bernstein expects pricing actions to drop more quickly to the bottom line and believes that by this time next year the company’s target of a better than 12% margin will look more realistic than it does today supporting a higher multiple and positive earnings revisions.
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