Otis Worldwide Corp (OTIS) PT Raised to $70 at Cowen

Cowen analyst Cai Von Rumohr raised the price target on Otis Worldwide Corp (NYSE: OTIS) to $70.00 (from $64.00) while maintaining a Outperform rating.

The analyst commented, "Otis's impressive Q2 beat & raise reflected strong execution & favorable mix; and hiked 2020 may have opportunity. Given the stock still looks under-owned by U.S. investors, we're hiking our PT to $70, a 2021 TEV/EBITDA of 16.7x and a 20% discount to Kone."

You May Also Be Interested In

• Jefferies Upgrades Tango Therapeutics Inc. (TNGX) to Buy
• Citi Trends (CTRN) PT Raised to $73 at DA Davidson Post CEO, CFO Meet
• JPMorgan Upgrades Link REIT (823:HK) (LKREF) to Overweight