UBS Cuts Price target on United Technologies (UTX) to $115; Reiterates Buy
- Wall St. rises amid robust earnings, GDP data
- FBI to review more emails related to Clinton's private email use: letter
- Unusual 11 Mid-Day Movers 10/28: (GRVY) (VRTS) (ITGR) Higher; (OPXA) (SNMX) (STON) Lower
- ExxonMobil (XOM) Tops Q3 EPS by 5c; CapEx Light of Views
- Baker Hughes (BHI), General Electric (GE) in Partnership Talks, Not Merger Talks
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your 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
- Leerink Partners Downgrades McKesson (MCK) to Market Perform
- Rosenblatt Upgrades NETGEAR (NTGR) to Buy
- Alphabet (GOOGL) (GOOG) Bullish View Reiterated at Mizuho Post Q3, Remains Top Pick
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!