UBS Cuts Price target on United Technologies (UTX) to $115; Reiterates Buy

September 19, 2016 8:37 AM EDT
Get Alerts UTX Hot Sheet
Price: $110.33 -0.42%

Rating Summary:
    6 Buy, 14 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 16 | New: 13
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UBS maintained a Buy rating on United Technologies (NYSE: UTX), and cut the price target to $115.00 (from $118.00), as expectations fall. UTX continues to trade at a discount to the market and its peers given heightened near term risk on GTF. The Street is now expecting ~5% EPS growth, the most conservative outlook for quite some time.

Analyst David Strauss commented, "2017 consensus expectations have drifted lower, now only calling for ~5% EPS growth, by far the most conservative outlook at this point in the year for quite some time. However, with risk building that CCS might not be able to carry the load again, Otis looking less likely to grow and the probable pension headwind, we think consensus expectations are still likely too high. We have reduced our 2017 EPS estimate to $6.75 as compared to $6.88 consensus."

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 $100.10 yesterday.

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