Nomura Securities Maintains a 'Buy' on United Technologies (UTX); Preview of Investor Meeting

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

Analyst, Shannon O'Callaghan, said, "Investor meeting preview; expect incremental positive clarity on equity issuance, F&S fix and Goodrich. UTX shares have been benefiting from an unwind of negativity this year (+15% YTD versus the S&P500 +9%) on lower-than-expected equity issuance for Goodrich (NYSE: GR) and a lowering of the 1Q hurdle to reflect pressure in CC&S. We expect incremental positive clarity in three key areas at Thursday’s meeting: 1) the amount below “$2B or less” of GR equity issuance and path to get there; 2) a more detailed plan on how to fix F&S; and 3) updated thoughts on Goodrich’s expected fundamental contributions to UTX, with potential upside to initial plan. No change to our 2012E / 2013E EPS of $5.50 (cons $5.59), and $6.75 (cons. $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 $83.55 yesterday.

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