UPS to invest over $2 billion from 2024 to 2028

United Parcel Service plans to invest more than $2 billion between 2024 and 2028 to improve speed, reliability, customer control and network resilience across its International, Health Care and Supply Chain Solutions businesses. The program includes new hubs in the Philippines, Canada and Hong Kong, technology-enabled logistics centers in Taiwan, expanded access to Europe’s fastest ground network, a modernized Asia-Pacific network, next-day and Saturday delivery in Canada and Europe, and broader cross-border services across North America. UPS shares were up 0.10% at $102.11 on Monday, outperforming an Industrials sector that fell 0.83%, but remained below their 20-day, 50-day, 100-day and 200-day moving averages. MACD was below its signal line with a negative histogram, while key technical levels were identified at $110 resistance and $95.50 support. The estimated Oct. 27 earnings report is expected to show earnings per share of $1.63, down from $1.74 a year earlier, and revenue of $22.14 billion, up from $21.40 billion. Analysts hold a Buy consensus with a $116 price forecast, while recent target changes ranged from $115 to $130. Benzinga Edge rated UPS strong on quality, neutral on momentum and value, and weak on growth. UPS also has significant weights in several transportation and logistics ETFs, exposing the stock to passive fund flows.

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