Jefferies Maintains Buy Rating and $105 PT on United Technologies

A report from Jefferies & Company reiterates its Buy rating and $105 price target on United Tech (NYSE: UTX).

In the report, Jefferies writes, “After the market closed on October 12, United Technologies and Rolls-Royce announced that Pratt & Whitney, a unit of UTX, will purchase Rolls' 34% interest in IAE, the producer of the V2500 engine, for $1.5 billion and a payment for 15 years based on the installed base at the time of the close. Our 2011 EPS estimate of $5.45 remains unchanged as the deal is expected to close in 2012 following regulatory approvals”.

UTX closed at $74.24.