Deutsche Bank Raises United Parcel Service PT To $89 (UPS)

Deutsche Bank raised its United Parcel Service UPS price target to $89 from $87 in a research report published today. In the report, Deutsche Bank states, "Yesterday before the open, UPS reported Q4 EPS of $1.08 well above our estimate of $1.01 and Consensus of $1.05. Upside was driven by a combination of modestly better-than-expected top-line growth (International and Supply Chain & Freight) coupled with strong cost controls. The company leveraged volume growth and better pricing to produce 48% incremental margins in Q4. We continue to be Buyers of UPS as we see strong earnings growth in 2011-12 as well as a shareholder friendly management team." Shares of United Parcel Service were trading at $74.55 in after hours trading at the time of posting, down 0.05% from Tuesday's market close.