Nomura Securities Maintains a 'Buy' on United Technologies (UTX); Review of Q1
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Price: $86.01 --0%
Rating Summary:
16 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 18 | New: 20
Rating Summary:
16 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 18 | New: 20
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Nomura Securities maintains a 'Buy' on United Technologies (NYSE: UTX) price target of $95.00.
Analyst, Shannon O'Callaghan, said, "There is something for everybody going on at UTX right now. For those who think that Otis is going to miss because China residential construction (ex public housing) isn’t coming back in 2H12, we think they’re probably right, but the company also said on the call that it has more than enough in its contingency bucket to absorb such a miss. For those who think that HVAC is getting better and Carrier can beat, we think they’re probably right too. For those who think all of the items in 2012 make it a noisy mess that somehow gets sorted out, with UTX making or beating its guidance and setting up for a better 2013 we think they’re right as well. So while it might not be pretty, we still think that at less than 12x our 2013 EPS estimate, UTX can grind higher from here. Our $95 price target represents approximately 14x our 2013 EPS estimate of $6.75."
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 $79.85 yesterday.
Analyst, Shannon O'Callaghan, said, "There is something for everybody going on at UTX right now. For those who think that Otis is going to miss because China residential construction (ex public housing) isn’t coming back in 2H12, we think they’re probably right, but the company also said on the call that it has more than enough in its contingency bucket to absorb such a miss. For those who think that HVAC is getting better and Carrier can beat, we think they’re probably right too. For those who think all of the items in 2012 make it a noisy mess that somehow gets sorted out, with UTX making or beating its guidance and setting up for a better 2013 we think they’re right as well. So while it might not be pretty, we still think that at less than 12x our 2013 EPS estimate, UTX can grind higher from here. Our $95 price target represents approximately 14x our 2013 EPS estimate of $6.75."
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 $79.85 yesterday.
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