Oppenheimer Reiterates Outperform On United Parcel Amid Company’s Ground, Air, International, And Freight Growth
In a research note issued yesterday, Oppenheimer analyst Scott Schneeberger reiterated an Outperform rating on United Parcel Service (NYSE:UPS), following the company’s announcement that their ground, air, international, and freight average rate has increased by 4.9%. No price target was assigned.
Schneeberger wrote, “These 2015 rate increases will go into effect on 12/29/14. The timing of the announcement comes a month earlier than it did a year ago (announced 11/21/13) and is consistent with last year’s 4.9% y/y average increase that became effective 12/30/13. It is also consistent with FedEx’s 4.9% y/y average 2015 rate increases (effective 1/5/15) announced 9/16/14. Reiterating Outperform, we look forward to incremental pricing and operational commentary on the company’s 3Q14 results call.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Scott Schneeberger has a total average return of 16.4% and a 69% success rate. Schneeberger has a 9.3% average return when recommending UPS, and is ranked #180 out of 3354 analysts.