UPDATE: Morgan Stanley Initiates United Technologies at Overweight on Long-Term EPS Growth

Morgan Stanley published a report Wednesday, as analyst Nigel Coe initiated United Technologies Corporation

with an Overweight rating and a price target of $105. Coe wrote, "UTC is an attractive Aero /Non-Resi Construction hybrid that has significant, broad-based and visible margin tailwinds. We are comfortable with China and Sequester headline risks; instead, we expect a more powerful pull from above-average EPS growth potential through 2015 vs. mega-cap peers." United Technologies closed Wednesday at $93.15.