JP Morgan Maintains Neutral Rating for United Parcel Service: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
JP Morgan has maintained a Neutral rating for United Parcel Service (UPS) but lowered its price target from $165.00 to $156.00. UPS shares are currently trading down 0.22% at $156.61, and a move to the new target would imply a 0.39% decrease. UPS is the world's largest parcel delivery company, with significant operations in the U.S. and internationally.
December 21, 2023 | 5:00 pm
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JP Morgan maintains a Neutral rating on UPS and lowers the price target to $156. The stock is trading slightly down, and the new target suggests a marginal decrease in value.
The reduction in price target by JP Morgan could lead to a negative perception among investors, potentially causing a short-term dip in UPS's stock price. However, the impact may be limited due to the already close trading price to the new target and the neutral stance, which does not suggest a significant change in the company's outlook.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100