Goldman Adds UPS to Conviction List as Turnaround Takes Hold

Goldman Sachs added United Parcel Service to its US Conviction List in its August update, citing the completed Amazon volume transition and structural cost leverage emerging from the carrier's network redesign. UPS shares closed Friday at $104.50, up 1.3%, still about 14% below their 52-week high.

The endorsement lands alongside a fresh $1.64 quarterly dividend declaration payable September 3, extending a streak of maintained or increased dividends every year since the company's 1999 IPO. At roughly 14.5 times forward earnings with a yield above 6%, the stock screens as one of the cheaper large-cap industrials.

UPS has also rolled out new digital shipping tools for small and medium-sized businesses in recent weeks, including an enhanced pickup dashboard and streamlined label creation, part of its push to win higher-margin SMB volume.