Deutsche Bank Ups United Parcel to 'Strong Buy'
Deutsche Bank upgraded United Parcel (UPS ) to strong buy from buy.
Analyst John Barnes says that not only will an immediate increase in demand for shares lead to stock price appreciation, but he also believes it will serve as a catalyst that will allow UPS to break out of its tight trading range of the last four months. Barnes notes the company continues to be a dominant player in the domestic parcel delivery business, and has strong growth potential through its investment in international markets and in the non-asset based logistics arena. He raised his $63 target to $72 and sees $2.26 2002 earnings per share as well as $2.57 EPS for 2003.