The United Parcel Service Inc. News:
The United Parcel Service Inc (UPS) finds itself in a challenging position as negotiations with the Teamsters, the union representing its 340,000 workers, hit a deadlock. The head of the union expressed a willingness to keep talking, despite the bargaining committee rejecting UPS’s latest contract offer. With the contract set to expire at midnight on July 31, both parties are under pressure to find a resolution.
The negotiations between UPS (UPS:NYE) and the Teamsters have been ongoing, with the aim of reaching an agreement that satisfies both parties. However, the recent deadlock indicates that significant gaps in expectations remain. While UPS maintains that it has nothing more to offer, the Teamsters are pushing for improved pay for workers who missed out on pandemic-related pay increases due to labor shortages.
The rejection of UPS’s latest contract offer by the Teamsters’ bargaining committee indicates that the offer did not meet their expectations. Nevertheless, the head of the union expressed a willingness to continue discussions, highlighting the importance of finding a resolution that addresses the concerns of UPS workers.
The impending expiration of the contract adds urgency to the negotiations. Both UPS and the Teamsters have a vested interest in avoiding disruptions to their operations and ensuring the well-being of workers. A failure to reach an agreement before the deadline could result in work stoppages or other forms of labor unrest, causing significant disruptions to UPS’s operations and potentially impacting its reputation.
United Parcel Service Inc Stock Forecast:
According to 20 analysts, the average target price for United Parcel Service Inc (UPS) over the next 12 months is USD 198.29. The average analyst rating for UPS is Buy. Stock Target Advisor‘s analysis of UPS indicates a slightly bullish outlook, based on 8 positive signals and 5 negative signals. As of the last closing, UPS’s stock price was USD 185.26. Over the past week, the stock price has increased by +3.06%, over the past month by +3.74%, and over the last year by +1.46%.
