UPDATE: Bank Of America Reiterates On United Technologies Following Model Update
In a report published Wednesday, Bank of America analyst Ronald J. Epstein reiterated a Buy rating on United Technologies (NYSE: UTX), but lowered the price target from $130.00 to $125.00.
In the report, Bank of America noted, “We like UTX's balanced growth, end-market exposure, op leverage and execution. UTX has strong mkt positions in both aero/def and global infrastructure with a portfolio that includes: Otis, Hamilton Sundstrand, Pratt & Whitney, Sikorsky and Climate, Controls & Security (legacy Carrier, Fire & Security ). Global balance and end-market diversification provide a hedge during periods of economic uncertainty. A conservative BS and strong FCF conversion allow for continued share buy backs and M&A.”
United Technologies closed on Tuesday at $110.86.
Latest Ratings for UTX
|Jan 2015||Citigroup||Initiates Coverage on||Buy|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.