Barclays Capital Raises Target, Estimate for United Technologies (UTX)

in Gold Gold Investing by admin — March 18, 2010 6:20 am | no comments

HVAC and aerospace products maker United Technologies Corporation ( UTX ) on Thursday saw its price target and earnings estimate boosted by analysts at Barclays Capital. The analyst said it now sees UTX shares, which had closed at $72.19 on Wednesday, reaching $81. Barclays Capital also raised its 2010 earnings estimate to $4.60 from $4.55, citing positive sentiment following the company’s recent analyst day. The firm maintained its “Overweight” rating on the stock. United Technologies shares were mostly flat in premarket trading Thursday. The Bottom Line Shares of UTX have a dividend yield of 2.35%, based on last night’s closing stock price of $72.19. The stock has technical suuport in the $65 price area. If the shares can firm up, we see overhead reistance around the $75-$76 price levels. We would remain on the sidelines for now. United Technologies Corporation ( UTX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 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 .