UPS price target raised to $105 from $96 at BMO Capital

BMO Capital analyst Fadi Chamoun raised the firm’s price target on UPS (UPS) to $105 from $96 and keeps a Market Perform rating on the shares. The company’s Q3 results exceeded expectations, primarily driven by stronger-than-anticipated revenue per piece in the U.S. Domestic segment, and assuming the macroeconomic environment remains stable, the effective execution of the ongoing business transformation plan supports the view that 2025 will likely mark the cyclical trough for earnings, the analyst tells investors in a research note.