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Fly News Breaks for February 22, 2017
UPS
Feb 22, 2017 | 06:52 EDT
BofA/Merrill analyst Ken Hoexter downgraded UPS to Neutral and lowered its price target to $114 from $123 citing a more muted growth outlook combined with higher capex targets. UPS management lowered its long-term growth target to approximately 6% earnings CAGR at the mid-point til 2019 and capital expenditures increased to 6-7% of 2018-19 revenue, versus approximately 4% in 2014 and 2015, the analyst wrote.
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