Credit Suisse Reiterates Neutral Rating, Lowers Price Target On UPS On EPS Revisions

In a report published Wednesday, Credit Suisse analyst Allison M. Landry reiterated a Neutral rating on

, but lowered the price target from $102.00 to $100.00. In the report, Credit Suisse noted, "We have lowered our FY15 and FY16 EPS estimates to $5.14 and $5.73, from $5.25 and $6.00, respectively. We are also introducing our FY17 estimate of $6.37. Our DCF-derived target price is $100 (from $102), due to lower base year (2016) EBIT. EPS of $1.25 was in line with our estimate and the consensus. Recall that UPS pre-announced EPS expectations of ~$1.25 on 1/23, falling short of the initial $1.47 consensus due to higher peak-related costs." UPS closed on Tuesday at $100.57.