rjm77me's Blog : UPS - I am a buyer on weakness as value play

Tuesday Feb 16 evening update - it still lacks buyers. My calls bought last Friday did make money. Friday UPS calls closed at 99c and today traded as high as 1.50 - decent one day return.
I am a buyer based on the upgarde mentioned below. The volume has dried up till noon time - meaning lack of buyers - no significant selling of UPS this morning. it just took dive with the broader indexes. I consider it a value play

UPS upgraded to Buy at Argus; tgt $70 (56.62 ) : Argus upgrades UPS to Buy from Hold and sets target price at $70 saying although 1Q10 is likely to be a challenging quarter, they expect volume and earnings to accelerate over the remainder of the year and look for the company to reach its full-year EPS target of $2.70-$3.05. They note that UPS is emerging from the recession as a leaner, more focused and better positioned company, and they expect it to take full advantage of improving economic trends.