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Fly News Breaks for March 2, 2020
UPS
Mar 2, 2020 | 18:34 EDT
Deutsche Bank analyst Amit Mehrotra upgraded UPS to Buy from Hold with a $119 price target. The analyst points to "opportunity" following its sell-off, saying the stock appears to be de-risked with an implied dividend yield of 4.4% as its current valuation discounts a 30% reduction in earnings power. Mehrotra adds that the periods of difficulty often create "dislocations" while noting that the company's record wide dividend yield vs. 10-year Treasury yield makes it "one of the most compelling ideas" in his coverage universe.
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