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Fly News Breaks for March 10, 2016
UPS, FDX
Mar 10, 2016 | 07:40 EDT
UBS noted jet fuel prices have fallen since FedEx (FDX) last reported quarterly results and believes the lower fuel cost should provide support for the company's Q3 earnings. The firm sees a wide valuation gap with UPS (UPS) and believes FedEx should be able to close that gap over time. UBS reiterated its Buy rating and $169 price target on FedEx shares.
News For FDX;UPS From the Last 2 Days
UPS
Mar 28, 2024 | 07:32 EDT
TD Cowen lowered the firm's price target on UPS to $140 from $147 and keeps a Hold rating on the shares. The firm said they attended UPS' investor day this week at the company's Worldport facility in Louisville and noted management set out their financial targets through 2026. Cowen believes the revenue guide is very aggressive and were disappointed that they do not expect their P&L targets to translate into higher free cash flow. Also, overcapacity remains a major concern among investors.
UPS
Mar 28, 2024 | 06:58 EDT
Stifel lowered the firm's price target on UPS to $170 from $178 and keeps a Buy rating on the shares after the company hosted its first analyst day since 2021 and highlighted progress made on several strategic initiatives. The new multi-year outlook presented exceeded Street expectations, but back-end weighted targets that necessitate market recovery "may be optimistic, especially after 2023's weak demand and labor challenges," the analyst tells investors in a recap note. While investors will have to be more patient to see benefits accrue, the firm says it feels "good about UPS' ability to execute," the analyst added.