Credit score Suisse upgrades UPS, will get optimistic on inventory for first time in 5 years

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A United Parcel Service employee delivers packages in New York Metropolis.

Stephanie Keith | Getty Photographs

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Credit score Suisse has turned bullish on UPS for the primary time in years, saying in a word to purchasers that parcel carriers now have the higher hand in a booming supply business.

The pandemic restrictions accelerated the shift to e-commerce, main to an enormous spring and summer season for supply firms. UPS reported growth of nearly 21% in its every day quantity for the second quarter. That demand surge places UPS and rival FedEx in a robust negotiating positions, Credit score Suisse mentioned, and the financial institution upgraded the inventory to outperform from impartial.