UPDATE: Morgan Stanley Reiterates On United Technologies Corporation As Risks Are More Than Priced In

In a report published Friday, Morgan Stanley analyst Nigel Coe reiterated an Overweight rating on United Technologies Corporation UTX, but lowered the price target from $129.00 to $124.00. In the report, Morgan Stanley noted, “We reiterate UTX as our top pick since upside to our lowered PT of $124 (from $129) remains very attractive relative to quality. We have reduced our 2015e to $7.30 on pension/FX headwinds, but we believe that negative EPS revisions are already embedded within UTX's unusual 10% discount to peers.” United Technologies Corporation closed on Thursday at $104.49.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Analyst ColorPrice TargetAnalyst RatingsMorgan StanleyNigel Coe
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!