Oppenheimer analyst Scott Schneeberger weighs in on United Postal Service, Inc. (NYSE:UPS) following the company’s solid second-quarter earnings report. The analyst raised his price target to $116 ($112), while reiterating an Outperform rating on the stock.

Schneeberger noted, “2Q16 adj’d EPS of $1.43 (+6% y/y) compared to our estimate/consensus of $1.41/$143, respectively. Revenue grew 3.8% y/y, consistent with expectations, via continued e-commerce driven B2C growth, and solid export volume growth with the Europe-to-US trade-lane growing double-digits. International Package segment operating margin expanded strongly y/y via volume growth, pricing, and network efficiencies. Domestic Package segment margins also expanded, via technologydriven productivity improvements and lower cost per unit. Supply Chain & Freight operating margin tempered y/y as overall business conditions remain challenging. UPS reaffirmed 2016 EPS guidance of $5.70-$5.90 (+5% to +9% y/y; $5.80 consensus). Maintaining our 2016-2017 estimates; the UPS story remains on track.”

According to TipRanks, only 16% of analysts issue a Buy Rating for UPS, while 67% maintain a Hold rating, and the remaining 17% uphold a Sell rating for the stock. The consensus target price for UPS is $107.83, marking a -0.17% downside from current share prices.

Scott Schneeberger is ranked #66 of 4,083 analysts. He maintains a success rate of 64% and realizes an average return of 12.1%. When rating UPS, the analyst maintains a 72% success rate and an average profit of 5.8%.