In a report published Friday, UBS Investment Research analyst David E. Strauss reiterated a Buy rating on United Technologies UTX, and raised the price target from $105.00 to $122.00.
In the report, UBS Investment Research noted, “UTX has outperformed post relatively clean Q2 beat that included positive updates on Otis margins, Pratt aftermarket and China. We think the stock can continue to work and are raising our price target as order trends and strong cash generation (share repo and deleveraging) have UTX set up to finally deliver outsized EPS growth. While more difficult order comps from here are a risk, we do not expect much of a slowdown given improvement in N America and stabilization in Europe.”
United Technologies closed on Thursday at $107.18.
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