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Deutsche Bank Cuts Price Target on United Technologies, but Still a “Buy” (UTX)

By Dividend.com,  June 18, 2012, 11:58:31 AM EDT

Building systems maker United Technologies Corporation ( UTX ) on Monday saw its price target lowered by analysts at Deutsche Bank.

The firm said it now expects UTX shares to reach $92 (down from $94). That new target suggests a 24% upside to the stock's Friday closing price of $74.49.

A Deutsche Bank analyst commented, "13 Aerospace/Defense companies participated in our Industrial Conference last week in Chicago. Commercial aero companies, while still optimistic about future growth, were at times more cautious in light of a heightened level of macro uncertainty and global political stalemate…United Technologies ( UTX ) rebalanced expectations for EPS citing f/x, Otis, slower commercial aero aftermarket and the European uncertainty wildcard."

UTX shares rose 38 cents, or +0.5%, in late morning trading Monday.

The Bottom Line
Shares of United Technologies ( UTX ) have a 2.87% dividend yield, based on Friday's closing stock price of $74.49. The stock has technical support in the $69-$70 price area. If the shares can firm up, we see overhead resistance around the $77-$8-0 price levels.

United Technologies Corporation ( UTX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: UTX



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