Citi Maintains Buy Rating and $80 PT on United Parcel Service

A report from Citi reiterates its Buy rating and $80 price target on United Parcel Service (NYSE: UPS).

The report states, “As is customary for middle to late 4Q, UPS released its General Rate Increase (GRI) in both Ground and Express for 2012, along with a host of other pricing increases for tangential servicing and handling fees. Effective January 2, 2012, Ground and Express services will increase 4.9% on a net basis, with Ground base rates increasing by 5.9%, partially offset by a 1% reduction in the index-based ground fuel surcharge, while Express base rates will increase by 6.9%, partially offset by a 2% reduction in indexbased air and international fuel surcharges.”

UPS closed Friday at $69.14.