In a report published Wednesday, Credit Suisse analyst Allison M. Landry reiterated a Neutral rating on United Parcel Service UPS, but lowered the price target from $102.00 to $100.00.
In the report, Credit Suisse noted, "We have lowered our FY15 and FY16 EPS estimates to $5.14 and $5.73, from $5.25 and $6.00, respectively. We are also introducing our FY17 estimate of $6.37. Our DCF-derived target price is $100 (from $102), due to lower base year (2016) EBIT. EPS of $1.25 was in line with our estimate and the consensus. Recall that UPS pre-announced EPS expectations of ~$1.25 on 1/23, falling short of the initial $1.47 consensus due to higher peak-related costs."
UPS closed on Tuesday at $100.57.
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