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Fly News Breaks for January 29, 2020
BA, RTN, UTX
Jan 29, 2020 | 08:13 EDT
Argus analyst John Eade raised his price target on United Technologies (UTX) to $170 and kept his Buy rating after its Q4 earnings beat. The analyst notes that the company should get a boost from increased defense spending in the near term and also benefit from expanding middle class in the developing markets over the longer term, though he sees its exposure to Boeing's (BA) 737 MAX production as a challenge. Eade adds that earnings should benefit from the Rockwell Collins acquisition and the planned Raytheon (RTN) merger over the medium term.
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