Market Overview

UPDATE: Deutsche Bank Upgrades United Parcel Service to Buy Following Suspension of Acquisition

Share:
Related UPS
Is The Euro's Decline A Good Reason To Invest?
Citi: FedEx Is 'In The Driver's Seat'
Stocks Making the Most of the March Madness - Analyst Blog (Zacks)

Deutsche Bank upgraded United Parcel Service, Inc. (NYSE: UPS) from Hold to Buy with a $92 price target.

Deutsche Bank noted, "We have upgraded UPS To Buy (from Hold) as we now see a more aggressive capital deployment and fewer headwinds constraining share performance following this morning's announcement that UPS will no longer purchase TNT Express. We believe investors had been cautious about its proposed acquisition of TNT Express. In conjunction with the merger termination, UPS will pay a one-time €200 million ($0.18/share, assuming a 34.5% effective tax rate and 962 diluted shares outstanding) breakup fee to TNT Express to walk away from the transaction as the European Commission's case team informed UPS that it was working towards proposing a prohibition decision."

United Parcel Service closed at $77.92 on Friday.

Latest Ratings for UPS

DateFirmActionFromTo
Jan 2015BarclaysDowngradesOverweightEqual-weight
Jan 2015MacquarieDowngradesNeutral
Jan 2015Deutsche BankMaintainsHold

View More Analyst Ratings for UPS
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (UPS)

Around the Web, We're Loving...