Goldman Sachs Reiterates Neutral on United Technologies Corporation Following Investor Day
In a report published Friday, Goldman Sachs analyst Noah Poponak reiterated his Neutral rating and $92.00 price target on United Technologies Corporation (NYSE: UTX).
In the report, Poponak noted, “UTX believes its YTD order momentum supports its EPS forecast. Sequestration is a downside risk to guidance, while below the operating line items – pension, tax, FX – are a source of upside (relative to initial guidance provided in December)...We remain Neutral on UTX and there is no change to any of our estimates or price target. UTX trades at 13.3X CY2014E P/E, vs. its 5-year historical average of 13.8X, and a 7% premium to the current Aerospace group average, vs. its 5-year historical average premium of 3%.”
United Technologies Corporation closed on Thursday at $93.45.
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Tags: Goldman Sachs