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Fly News Breaks for February 10, 2020
UPS, FDX
Feb 10, 2020 | 08:24 EDT
Shares of FedEx (FDX) rallied 5% on Friday after the company announced an initiative for Ground to handle a portion of Express's residential deliveries, JPMorgan analyst Brian Ossenbeck tells investors in a research note. The analyst believes the program should help lower delivery costs but he disagrees with the implication that it is the first step toward fully integrating Express and Ground. The two networks have a limited overlap in service lines, operating locations, and employment models, he contends. However, Ossenbeck expects FedEx shares will hang on to its recent gains. FedEx looks increasingly attractive versus UPS (UPS), which faces valuation pressure from its Amazon (AMZN) disclosure and "persistent" earnings quality issues, says Ossenbeck. In the interim, though, he remains cautious on FedEx's push to be the low-cost e-commerce carrier and keeps a Neutral rating on the shares.
News For FDX;UPS From the Last 2 Days
FDX, UPS
Nov 29, 2021 | 12:17 EDT
Get caught up quickly on the top news and calls moving stocks with these Top Fives, as compiled by the editors of The Fly.  1... To see the rest of the story go to thefly.com. See Story Here
FDX, UPS
Nov 29, 2021 | 10:04 EDT
Check out today's top analyst calls from around Wall Street, compiled by The Fly. MOVING TO THE... To see the rest of the story go to thefly.com. See Story Here
UPS
Nov 29, 2021 | 09:59 EST
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Pinduoduo (PDD) downgraded to Neutral from Buy at Citi with analyst Alicia Yap saying the company's growth visibility seems limited by its problems obtaining new customers. 2. Merck (MRK) downgraded to Neutral from Buy at Citi with analyst Andrew Baum seeing a "high probability" that Merck will abandon islatravir development for HIV in the next three months given "likely high" regulatory concerns. 3. Hudson Pacific (HPP) downgraded to Neutral from Overweight at Piper Sandler with analyst Alexander Goldfarb saying the latest Covid variant "is just one more headwind Office investors will have to face." 4. UPS (UPS) downgraded to Hold from Buy at Deutsche Bank with analyst Amit Mehrotra saying after the 120% increase in shares since the upgrade to Buy 21 months ago, the stock's risk/reward is better balanced. 5. Canadian Pacific (CP) downgraded to Hold from Buy at Deutsche Bank with analyst Amit Mehrotra saying the downgrade reflects CP's "significant" additional debt and new equity to pay for its acquisition of Kansas City Southern (KSU). This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
FDX, UPS
Nov 29, 2021 | 06:30 EST
Deutsche Bank analyst Amit Mehrotra downgraded UPS (UPS) to Hold from Buy with a price target of $221, down from $253. After the 120% increase in shares since the upgrade to Buy 21 months ago, the stock's risk/reward is better balanced, Mehrotra tells investors in a research note. The analyst now prefers FedEx (FDX) over UPS given the former's "severe" underperformance year-to-date and UPS's upcoming renegotiation with its union. The upcoming contract negotiation between UPS and the Teamsters "has potential to be the most tumultuous since the 15-day UPS work stoppage in 1997," Mehrotra contends.