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Fly News Breaks for January 2, 2020
Jan 2, 2020 | 07:35 EDT
Citi analyst Christian Wetherbee lowered his estimates for UPS for Q4 and 2020, as while he believes the company is executing its ecommerce strategy relatively well, the undertaking is massive and expectations are likely too high. The analyst tells investors in a research note that he believes it is difficult to assume a significant step up in Domestic incremental margins in Q4 from Q3, as the peak season was challenging from a timing and weather standpoint. Wetherbee, who has a Neutral rating on the shares, says he remains "tactically cautious" on the stock into Q4 results, but sees growth in 2020 and believes that as shares retreat from November highs, there is potential value building, particularly around $110.
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