UBS Cuts Price target on United Technologies (UTX) to $115; Reiterates Buy
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
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."
Shares of United Technologies closed at $100.10 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UBS Cuts Price Target on Restoration Hardware (RH) to $34 Following 3Q
- BMO Capital Cuts Price Target on Nielsen Holdings (NLSN) to $45
- Jefferies Raises Price Target on Casey's General Stores (CASY) Following 2Q Earnings Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!