UPDATE: Morgan Stanley Resumes United Parcel Service at Equal-Weight on Muted Upside

Morgan Stanley resumed coverage on United Parcel Service

with an Equal-weight rating. Morgan Stanley commented, "Measured by the usual financial metrics we believe UPS is one of the best run asset-based companies we cover; however, after failing to acquire TNT, UPS is left pursuing a less-than-exciting growth story focused on tuck-ins and share buybacks. Furthermore, while UPS has exposure to a broad global recovery in trade and airfreight, it is less levered to those trends than FDX." United Parcel Service closed at $84.44 on Friday.