United Parcel Service Inc


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SKU: UPS Category:


United Parcel Service was comfortably able to meet our target price in the quarter as the company continues to deliver a robust performance driven by the surge in residential package-delivery demand. The stellar Q1 results of 2021 were largely associated with strong revenue growth across all segments and improving pricing power. The company added nearly 150,000 new DAP (Delivered-at-place) accounts and in the words of the management, UPS is on track to hit a $1 billion DAP revenue target by the end of 2021. Moreover, the international package business of the company continues to enjoy tailwinds from limited airlift capacity and healthy export demand. It is also worth highlighting that in order to make the UPS billing a seamless experience, the company replaced its old homegrown system with a new SaaS application and started deploying it globally in the first quarter. We maintain our ‘Buy’ rating on the stock with a revised target price.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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