Otis Worldwide Corp (OTIS) PT Raised to $77 at Cowen
Get Alerts OTIS Hot Sheet
Price: $97.17 +0.91%
Rating Summary:
6 Buy, 12 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 15 | Down: 10 | New: 13
Rating Summary:
6 Buy, 12 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 15 | Down: 10 | New: 13
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Cowen analyst Cai Von Rumohr raised the price target on Otis Worldwide Corp (NYSE: OTIS) to $77.00 (from $75.00) while maintaining an Outperform rating.
The analyst commented, "Otis' 2021 results are buoyed by gradual market recovery, share gains, and FX pluses vs. European peers; and all major OE's should see secular service share gains from the trend to elevator connectivity. Yet Otis' 14.2x 2021 TEV/EBITDA is a 23% discount to peer Kone & Schindler. We see reset upside as the stock becomes more widely known and are nudging our PT to $77, a 16.5x TEV/EBITDA."
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