Wells Fargo raised the firm’s price target on UPS (UPS) to $110 from $96 and keeps an Equal Weight rating on the shares. Coming off its callback estimates tick higher, but the firm remains modestly below consensus for 2026. Wells notes 2026 is second half weighted, with meaningful Q1 pressure. The firm sees a path to improving trends in the second half of the year given solid underlying fundamentals, but execution risk remains.
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