UPS stock falls after analyst says post-earnings surge raises concern about 12-month upside - Marketwatch
After biggest 3-day stock surge in over 10 years, Stifel’s David Ross cuts rating as he’d rather downgrade the stock than raise his price target again
Shares of United Parcel Service sank Monday, after Stifel Nicolaus analyst David Ross said the company’s stock rallied too much after earnings for him to remain bullish over the coming year.
The stock dropped 1.7% in morning trading, to put it on track to snap a 7-session win streak, which would have matched a stretch ending April 18, 2018.
Since UPS reported before last Wednesday’s open second-quarter earnings that rose above expectations and affirmed its full-year outlook, the stock had soared 14.5% in three sessions through Friday. That was the stock’s best 3-day performance since it ran up 14.7% in three days ending Nov. 25, 2018.
After biggest 3-day stock surge in over 10 years, Stifel’s David Ross cuts rating as he’d rather downgrade the stock than raise his price target again
Shares of United Parcel Service sank Monday, after Stifel Nicolaus analyst David Ross said the company’s stock rallied too much after earnings for him to remain bullish over the coming year.
The stock dropped 1.7% in morning trading, to put it on track to snap a 7-session win streak, which would have matched a stretch ending April 18, 2018.
Since UPS reported before last Wednesday’s open second-quarter earnings that rose above expectations and affirmed its full-year outlook, the stock had soared 14.5% in three sessions through Friday. That was the stock’s best 3-day performance since it ran up 14.7% in three days ending Nov. 25, 2018.
