UPDATE: Deutsche Bank Cuts PT to $92 on United Technologies on Rebalanced Expectatios

Deutsche Bank reiterates its Buy rating on United Technologies

and reduces its price target from $94 to $92. Deutsche Bank says, "13 Aerospace/Defense companies participated in our Industrial Conference last week in Chicago. Commercial aero companies, while still optimistic about future growth, were at times more cautious in light of a heightened level of macro uncertainty and global political stalemate. … United Technologies (UTX) rebalanced expectations for EPS citing f/x, Otis, slower commercial aero aftermarket and the European uncertainty wildcard." UTX closed at $74.59 on Friday.