United Technologies shares poised for double-digit rise: Barron's
(Reuters) - Shares of industrial conglomerate United Technologies Corp (UTX.N) may be poised for double-digit increases over the next year to 18 months as its acquisition of Goodrich pays off and other businesses rebound, financial newspaper Barron's said.
Goodrich is expected to add 55 cents a share to 2013 earnings, the article said.
Citi Research analyst Deane Dray, who is quoted in the article, sees United Technologies shares gaining 18 percent this year to $110. Its shares closed at $92.64 on the New York Stock Exchange on Friday.
United's Otis elevator unit and the security and fire prevention businesses also are placed to make meaningful contributions this year, helped by overseas expansion, Barron's said in its April 8 edition.
With a $2.14 per share dividend, a share buyback program and earnings that could rise 15 percent this year, United Technologies shares are looking like a good bet, the article said.
(Reporting by Bill Berkrot; editing by Jane Baird)