Barclays Considers United Technologies (UTX) Shares As Oversold...Is The Worst Behind Us?

May 29, 2012 3:49 PM EDT
Get Alerts UTX Hot Sheet
Price: $110.63 +0.26%

Rating Summary:
    6 Buy, 14 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 17 | New: 10
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Barclays maintains an 'Overweight' on United Technologies (NYSE: UTX) price target of $100.00.

Analyst, Carter Copeland, said, "Post analyst day, we believed UTX shares were ahead of themselves...But bearish shifts in sentiment have nearly run their course...Forecasts will require adjustments, but EPS guidance is likely to hold and shares now look cheap on 2013."

Copeland thinks there could be a few more 'bumps' in 2013, but by the time Q2 results are in, that event should likely clear out estimates and bring back investors.

For an analyst ratings summary and ratings history on United Technologies click here. For more ratings news on United Technologies click here.

Shares of United Technologies closed at $73.02 yesterday.

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