Goldman Sachs Upgrades United Technologies (UTX) to Buy
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Price: $86.01 --0%
Rating Summary:
16 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
16 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Goldman Sachs upgraded United Technologies (NYSE: UTX) from Neutral to Buy with a price target of $138.00 (from $123.00), saying end-markets stars are aligning.
"We believe the end-market stars are aligning for United Technologies," analyst Noah Poponak said. "The company is well positioned in a strengthening Commercial Aerospace aftermarket, it is a market leader in its non-residential construction market, and its largest profit generators in the European construction markets appear to be bottoming. Pension and FX are moving to tailwinds, there is upside to consensus estimates, and valuation is attractive."
The firm bumped FY 2014 EPS from $6.82 to $6.89, FY 2015 from $7.55 to $7.84 and FY 2016 from $8.08 to $8.64.
The firm's price target is derived from a target CY15E P/E of 17.6X.
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 $113.77 yesterday.
"We believe the end-market stars are aligning for United Technologies," analyst Noah Poponak said. "The company is well positioned in a strengthening Commercial Aerospace aftermarket, it is a market leader in its non-residential construction market, and its largest profit generators in the European construction markets appear to be bottoming. Pension and FX are moving to tailwinds, there is upside to consensus estimates, and valuation is attractive."
The firm bumped FY 2014 EPS from $6.82 to $6.89, FY 2015 from $7.55 to $7.84 and FY 2016 from $8.08 to $8.64.
The firm's price target is derived from a target CY15E P/E of 17.6X.
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 $113.77 yesterday.
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