Nomura Securities Maintains a 'Buy' on Universal Technologies (UTX); Takeaways from Carrier Analyst Day
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Price: $86.01 --0%
Rating Summary:
16 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 9 | New: 12
Rating Summary:
16 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 9 | New: 12
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Nomura Securities maintains a 'Buy' on Universal Technologies (NYSE: UTX).
Nomura analyst, Shannon O'Callaghan, said, "Takeaways from UTX’s carrier analyst day. At the analyst meeting we saw evidence that Carrier has a significantly improved residential and light commercial HVAC business in North America with margins that we think have exceeded 2004 low teens peaks (we est mid teens now) on much lower volumes, and which we expect to be a solid contributor to Carrier’s 12% margin by 2012 target. We view Carrier management as positive on the long-term HVAC drivers for the business but also reasonable and balanced about the challenges in the market and 1Q benefits to revenues and margins."
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 $89.81 yesterday.
Nomura analyst, Shannon O'Callaghan, said, "Takeaways from UTX’s carrier analyst day. At the analyst meeting we saw evidence that Carrier has a significantly improved residential and light commercial HVAC business in North America with margins that we think have exceeded 2004 low teens peaks (we est mid teens now) on much lower volumes, and which we expect to be a solid contributor to Carrier’s 12% margin by 2012 target. We view Carrier management as positive on the long-term HVAC drivers for the business but also reasonable and balanced about the challenges in the market and 1Q benefits to revenues and margins."
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 $89.81 yesterday.
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