- Raymond James analyst Patrick Tyler Brown lowered the price target for United Parcel Service, Inc. (NYSE: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.
- Photo Via Company
Spire Inc. Elected Rob L. Jones Board Chair, Effective January 25, 2024.
The board of directors of Spire Inc. (NYSE:SR) announced that it has elected Rob L. Jones as board chair, effective January 25, 2024.An investment banking and commodities industry veteran, Jones, 65, has been a
