Argus analyst John Eade downgraded Otis Worldwide to Hold from Buy. The stock has outperformed the market over the past quarter even with the outlook for its earnings turning murky following two consecutive quarters of lowered guidance in a row, the analyst tells investors in a research note. Eade adds that Otis Worldwide’s current industry-average valuations are reasonable as the company’s earnings expectations for 2023 are coming down.
Published first on TheFly
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