MOST NOTEWORTHY: United Parcel Service (UPS) and FedEx Corp (FDX) top today's modest list of initiations.
- United Parcel Service, Inc. (NYSE:UPS) was initiated with a Buy rating and $85 target at Citigroup. The firm said more upside is seen given the expectation for double-digit EPS growth over the next few years.
- FedEx Corp. (NYSE:FDX) was initiated with a Buy rating and $132 target at Citigroup. The firm said FedEx has a favorable risk/reward given the expectation for 13% EPS growth over the next few years.
OTHER INITIATIONS:
- Level 3 Communication (NASDAQ:LVLT) was initiated with a Market Perform rating and $5 target at Janco.
- Morgan Stanley initiated Southern Union (NYSE:SUG) with an Underweight rating.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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