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UPS stock delivers gains following upgrade from Deutsche Bank

Shares of UPS are moving higher after the stock was upgraded by Deutsche Bank to Buy from Hold.

Video Transcript

JARED BLIKRE: My pick for today and just in time for the holiday shopping rush is UPS. Yahoo Finance's number two trending ticker today, as Deutsche Bank upgrades the stock to buy from hold with a new price target of $200, up from $197.

And I'm putting a two-year chart on right now. Deutsche Bank saying its easy to be neutral or negative on UPS in the current environment. But in our experience, that's exactly the time to get more positive, adding that macro concerns are, quote, "now fully reflected in the shares and widely held by market participants."

So, again, looking at this chart, I'm going to go to a longer term view. I think this captures 10 years here. Really pretty distinct trading range that we're looking at right now. Let me put some candlesticks. There you can go. 150 is the downside, to the upside of about 230, 245. And we are in the middle just about. So kind of a neutral setting in this holiday season, Dave.

PRAS SUBRAMANIAN: Yeah, you know, Jared, it's funny. The Deutsche Bank there with the $3 price target hike, the really high conviction move there. But, you know, I get what they're saying there. High holiday season shipping rush here. UPS, FedEx among the big plays that-- look at all of our people that we know. My parents, friends, they're all going to buy online for the holidays, not necessarily go to stores, like we used to do in the past.