Nomura Securities Maintains a 'Neutral' on UPS (UPS); Q1 Results Slightly Ahead

Nomura Securities maintains a 'Neutral' on UPS (NYSE: UPS).

Nomura analyst, Mark McVicar, said, "Q1 results were slightly ahead of the market and our expectations, with EPS at USD 0.88 versus our/consensus estimates of USD 0.83/USD 0.85. Within the mix all divisions were in line or ahead, with US Domestic Package EBIT up 29% on an underlying basis following the 2010 restructuring, that for International Package up a more modest 4.5% and Supply Chain and Freight up 44%, as it also saw the benefits of the 2010 restructuring and rationalisation. Guidance for 2011 was raised, earlier than we had expected. We have raised our 2011 estimate by 1.5%, but left 2012 and 2013 unchanged."

For more ratings news on UPS click here and for the rating history of UPS click here.

Shares of UPS closed at $74.25 yesterday.

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