Nomura Securities Maintains a 'Buy' on United Technologies (UTX); Review of Analyst Day

Nomura Securities maintains a 'Buy' on United Technologies (NYSE: UTX) price target of $95.00.

Analyst, Shannon O' Callaghan, said, "Management provided clarity around 3 key areas that we highlighted going into the meeting: 1) the amount below “$2B or less” of GR equity issuance; no straight equity, but a $1.5B mandatory convert 2) a more detailed plan on how to fix F&S which was provided along with confident reiteration of both 2012 and 2015 targets, and 3) updated thoughts on Goodrich’s expected fundamental contributions to UTX, with management taking synergy guidance to the high end of previous range and indicating there could be further upside. No change to 2012 / 2013 EPS estimates $5.50 / $6.75 vs. Street $5.57 / $6.71, respectively."

For an analyst ratings summary and ratings history on United Technologies click here. For more ratings news on United Technologies click here.

Shares of United Technologies closed at $86.89 yesterday.

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