According to Jefferies, United Parcel Service UPS price target is lowered to $82.
Jefferies said that UPS provided mid-decade financial targets that imply an EPS CAGR of 10%-15% through 2016, with free cash flow to exceed net income and a 50% dividend payout ratio. “Our downwardly-revised year-end 2011 price target of $82 (was $83) is based on our yearend 2011 target P/E of 16.5 (low end historical averages) on our lowered 2012e EPS of $4.95. Risks include higher oil prices and international disruptions.”
United Parcel Service closed yesterday at $66.18.
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