UPS price target raised to $107 from $100 at Oppenheimer

Oppenheimer analyst Scott Schneeberger raised the firm’s price target on UPS (UPS) to $107 from $100 and keeps an Outperform rating on the shares. The firm notes Q3 revenue/adjusted operating income/margin/EPS all significantly outperformed expectations. U.S. Domestic segment delivered its strongest revenue-per-piece year-over-year growth in three years, SMB penetration rose 340bps year-over-year to 32.8%, and B2B penetration rose 350bps year-over-year to 45.2%.