Nomura Securities Maintains a 'Neutral' on United Technologies (UTX); Review of the UTX/GR Deal
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Price: $86.01 --0%
Rating Summary:
16 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
16 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Neutral' on United Technologies (NYSE: UTX) price target of $88.00.
Nomura analyst, Shannon O’Callaghan, says, "UTX is acquiring Goodrich (NYSE: GR). Purchase price is $127.50 per share, which is above the $110-$125 range frequently referred to in the news. We think the deal might not close until mid-2012, which means there might not be much, if any, accretion in 2012 vs. our initial view that it could be $0.35+. However, accretion in 2013 could be north of $0.60. UTX also reiterated 2011 EPS guidance of $5.35-$5.45 on approximately $58B of revenues."
For more ratings news on United Technologies click here and for the rating history of United Technologies click here.
Shares of United Technologies closed at $74.87 yesterday.
Nomura analyst, Shannon O’Callaghan, says, "UTX is acquiring Goodrich (NYSE: GR). Purchase price is $127.50 per share, which is above the $110-$125 range frequently referred to in the news. We think the deal might not close until mid-2012, which means there might not be much, if any, accretion in 2012 vs. our initial view that it could be $0.35+. However, accretion in 2013 could be north of $0.60. UTX also reiterated 2011 EPS guidance of $5.35-$5.45 on approximately $58B of revenues."
For more ratings news on United Technologies click here and for the rating history of United Technologies click here.
Shares of United Technologies closed at $74.87 yesterday.
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