UPS is expected to deliver expanded margins with cost-cuts ahead, according to UBS analysts. They say in a research note that the recently announced 12,000 job reduction is a significant step in reducing costs, but they expect even more at the company’s March analyst meeting. UPS is seen with low expectation among investors, but the analysts see further cost-cuts, such as potentially using technology to lower headcount, driving margin upside in 2024. They upgrade shares to buy from neutral and raise their price target to $175 a share from $160. Shares rise 4.3% to $145.12.