FBR Capital Maintains a 'Market Perform' on Universal Technologies (UTX); Carrier Drives Solid 1Q Beat; Late-Cycle Aero and Nonresidential Gaining Momentum
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Price: $86.01 --0%
Rating Summary:
16 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
16 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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FBR Capital maintains a 'Market Perform' on Universal Technologies (NYSE: UTX), raises PT to $90.
FBR analyst says, "United Technologies delivered solid headline 1Q operating EPS of $1.11 well above FBR/consensus of $1.06 with revenues ahead of our estimate in four of the company’s six segments. Key positives included (1) solid organic revenues +9% versus our 5.0% assumption and a solid pickup from 5.8% in 4Q10; (2) robust performance at Carrier, where revenues exceeded our expectations by 11% driven by better trends in U.S. residential (partly dealer restocking) and solid growth at Transicold; (3) continued impressive growth in commercial aero aftermarket with spares orders up 33%/23% at PW/HS; and (4) about 25% YOY increase in orders for North America OTIS new equipment as nonresidential construction shows some signs of life."
For more ratings news on Universal Technologies click here and for the rating history of Universal Technologies click here.
Shares of Universal Technologies closed at $85.90 yesterday.
FBR analyst says, "United Technologies delivered solid headline 1Q operating EPS of $1.11 well above FBR/consensus of $1.06 with revenues ahead of our estimate in four of the company’s six segments. Key positives included (1) solid organic revenues +9% versus our 5.0% assumption and a solid pickup from 5.8% in 4Q10; (2) robust performance at Carrier, where revenues exceeded our expectations by 11% driven by better trends in U.S. residential (partly dealer restocking) and solid growth at Transicold; (3) continued impressive growth in commercial aero aftermarket with spares orders up 33%/23% at PW/HS; and (4) about 25% YOY increase in orders for North America OTIS new equipment as nonresidential construction shows some signs of life."
For more ratings news on Universal Technologies click here and for the rating history of Universal Technologies click here.
Shares of Universal Technologies closed at $85.90 yesterday.
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