UPDATE: Jefferies Lowers PT on United Technologies from $96 to $88
Jefferies reiterated a Buy rating on United Technologies (NYSE: UTX) and lowered its price target from $96 to $88.
Jefferies wrote, “Following Q2, we maintain our 2012 EPS estimate of $5.30. We are lowering our 2013 EPS slightly to $6.35. We view the quarter, although messy, in line with our expectations. The biggest improvement was operational performance within CC&S offset by disappointing, although well-anticipated issues within Otis. With Goodrich closed, this removes some of the overhang, however, there are still operational issues to grind through.”
United Technologies closed at $72.93 on Thursday.
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