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UPS Is Oversold, Despite Teamsters, Amazon Concerns, Stifel Says In Upgrade
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<blockquote data-quote="cheryl" data-source="post: 3397839" data-attributes="member: 1"><p><a href="https://www.benzinga.com/analyst-ratings/analyst-color/18/03/11313898/ups-is-oversold-despite-teamsters-amazon-concerns-stife" target="_blank"><strong>UPS Is Oversold, Despite Teamsters, Amazon Concerns, Stifel Says In Upgrade - Benzinga</strong></a></p><p></p><p><strong>The Analyst</strong></p><p></p><p>Stifel's <a href="https://www.tipranks.com/analysts/david-ross" target="_blank">David Ross</a> upgraded <a href="https://www.benzinga.com/stock/ups" target="_blank">UPS' stock</a> rating from Hold to Buy with a price target lowered from $127 to $121.</p><p></p><p><strong>The Thesis</strong></p><p>Investors have valid reasons to look at <a href="https://www.benzinga.com/pressreleases/18/02/g11115722/ups-growth-accelerates-in-2017" target="_blank">UPS' capital expenditure guidance</a> and say "there goes my cash!" Ross said in a Tuesday note.</p><p></p><p>"And that's true — there should not be too much excess cash above the amount needed to cover the dividend [over] the next couple of years," the analyst said. "But just as the stock was too high at $132, we believe it's now too low [at] $106 and will gravitate back up to the middle of that range this year."</p><p></p><p>UPS investors have concerns with the Teamsters contract that expires at the end of July, but Stifel believes an agreement will be reached, avoiding a strike, the analyst said.</p></blockquote><p></p>
[QUOTE="cheryl, post: 3397839, member: 1"] [URL='https://www.benzinga.com/analyst-ratings/analyst-color/18/03/11313898/ups-is-oversold-despite-teamsters-amazon-concerns-stife'][B]UPS Is Oversold, Despite Teamsters, Amazon Concerns, Stifel Says In Upgrade - Benzinga[/B][/URL] [B]The Analyst[/B] Stifel's [URL='https://www.tipranks.com/analysts/david-ross']David Ross[/URL] upgraded [URL='https://www.benzinga.com/stock/ups']UPS' stock[/URL] rating from Hold to Buy with a price target lowered from $127 to $121. [B]The Thesis[/B] Investors have valid reasons to look at [URL='https://www.benzinga.com/pressreleases/18/02/g11115722/ups-growth-accelerates-in-2017']UPS' capital expenditure guidance[/URL] and say "there goes my cash!" Ross said in a Tuesday note. "And that's true — there should not be too much excess cash above the amount needed to cover the dividend [over] the next couple of years," the analyst said. "But just as the stock was too high at $132, we believe it's now too low [at] $106 and will gravitate back up to the middle of that range this year." UPS investors have concerns with the Teamsters contract that expires at the end of July, but Stifel believes an agreement will be reached, avoiding a strike, the analyst said. [/QUOTE]
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