United Technologies Corp. (NYSE: UTX) stands to benefit from a diversified business model, the expansion of the middle class in developing markets and an upcoming $30-billion acquisition of Rockwell Collins, according to Argus Research.
John Eade of Argus Research upgraded United Technologies to Buy and assigned the stock a $150 price target.
United Technologies maintains a competitive and leading position in a number of global industries and should continue to rise thanks to population growth and a growing middle class in developing markets, Eade said in a Thursday note. (See the analyst’s track record here.)
United Technologies operates with four primary business segments: Otis, Climate Controls & Security, Pratt & Whitney and UTC Aerospace Systems. The company’s diverse segments, which operate in a variety of sectors, protect the company from weakness in any individual market, the analyst said.
The UTC Aerospace Systems segment is also set to merge with aerospace and defense avionics company Rockwell Collins in the third quarter of this year.
The merger is expected to strengthen growth for the UTC aerospace segment and strengthen United Technologies’ competitive position in the aerospace and defense market, Eade said.
At the time of publication, shares of United Technologies were trading down 0.54 percent at $126.79.
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Adding Some Spice To The Industrial Trade
Photo courtesy of United Technologies.
Latest Ratings for UTX
|Jan 2018||Stifel Nicolaus||Maintains||Hold||Hold|
|Jan 2018||Goldman Sachs||Upgrades||Neutral||Buy|
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