Morgan Stanley resumed coverage on United Parcel Service UPS 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.
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