Bernstein raises 3M stock price target on data center partnerships
Bernstein SocGen Group recently reduced its price target on UPS stock to $127 from $131, while retaining an Outperform rating. The lowered target reflects undervaluation, with a Fair Value of $119 according to data. The firm's adjustment is attributed to rising interest rates, which lowered valuation multiples. Despite the price cut, UPS remains a compelling investment due to strong margins, growth excluding Amazon, and an impressive dividend yield of 6.66%.
Analysts remain bullish on UPS, noting the company's history of consecutive dividend increases and its potential for positive growth. UPS is also preparing to release earnings on October 27, with options data suggesting a possible 6.1% stock movement. Additionally, the company has partnered with TikTok Shop for reverse logistics services and transported F-35 aircraft parts, while announcing floatings rate senior notes offerings for general corporate purposes and pension plans.
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