Deutsche Bank analyst Amit Mehrotra upgraded UPS to Buy from Hold with a $119 price target. The analyst points to "opportunity" following its sell-off, saying the stock appears to be de-risked with an implied dividend yield of 4.4% as its current valuation discounts a 30% reduction in earnings power. Mehrotra adds that the periods of difficulty often create "dislocations" while noting that the company's record wide dividend yield vs. 10-year Treasury yield makes it "one of the most compelling ideas" in his coverage universe.
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Unusual total active option classes on open include: ImmunityBio (IBRX), Halliburton (HAL), Redfin (RDFN), Nokia (NOK), Matterport (MTTR), General Motors (GM), UPS (UPS), Philip Morris (PM), PepsiCo (PEP), and General Electric (GE).
For 2024, UPS reaffirms its full-year, consolidated financial targets: Consolidated revenue to range from approximately $92.0 billion to $94.5 billion; Consolidated adjusted operating margin to range from approximately 10.0% to 10.6%; Capital expenditures of approximately $4.5 billion.