Market Overview

UPDATE: Sterne Agee Reiterates Buy Rating, Lowers PT on UPS

Related UPS
FedEx Faces Grand Jury, Indicted for Shipping Illegal Drugs
Investors Focus On Earnings Rather Than Geopolitical Tensions
FedEx Tops Street Views as 4Q Profit Soars (Fox Business)

In a report published Wednesday, Sterne Agee Group reiterated its Buy rating on United Parcel Service (NYSE: UPS), but lowered its price target from $110.00 to $105.00.

Sterne Agee noted, “What captured media focus from the UPS earnings release was the more conservative guidance based on a 1% 2H12 US GDP outlook. Despite this, we can build a number of reasons why 2013 will be a stronger EPS year for UPS as the company ratchets down costs and acquires a strategic asset for lower cost than planned, yet grows earnings w/$5.00+ in FCF.”

United Parcel Service closed on Tuesday at $74.34.

Posted-In: Sterne Agee GroupAnalyst Color Price Target Analyst Ratings

 

Most Popular

Related Articles (UPS)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free