Building technology specialist United Technologies Corporation ( UTX ) on Monday caught some positive commentary from analysts at Bank of America/Merrill Lynch.
The firm said it placed UTX on its "US 1″ List with a $110 price target. That target suggests a massive 32% upside to the stock's Friday closing price of $83.50.
United Technologies shares, which have jumped 14% since the beginning of 2012, rose 50 cents, or +0.6%, in premarket trading Monday.
The Bottom Line
Shares of United Technologies ( UTX ) have a 2.30% dividend yield, based on Friday's closing stock price of $83.50. The stock has technical support in the $76-$80 price area. If the stock can firm up, we see overhead resistance around the all-time high levels of $90-$92 a share.
United Technologies Corporation ( UTX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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