UPDATE: UPS (UPS) PT Lowered to $100 at Morgan Stanley; Sees EPS Well Below The Street

October 3, 2022 4:26 AM EDT
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Price: $179.91 -1.43%

Rating Summary:
    18 Buy, 15 Hold, 2 Sell

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Today's Overall Ratings:
    Up: 12 | Down: 17 | New: 16
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(Updated - October 3, 2022 8:22 AM EDT)

Morgan Stanley analyst Ravi Shanker lowered the price target on UPS (NYSE: UPS) to $100.00 (from $148.00) while maintaining a Underweight rating.

The analyst commented, "Our new EPS estimates for 2023/24 are 25/35% below consensus as we model larger mean reversion to pre-pandemic levels than before. In addition, AMZN and union risk could pressure earnings even more, pushing the multiple down to ~12x for now."

The firm now sees Y23/24 EPS of $9.80/$8.63 from $11.19/$10.38 (cons $13.01/$13.26).

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