Otis Worldwide price target lowered to $95 from $97 at Wells Fargo

Wells Fargo analyst Joseph O’Dea lowered the firm’s price target on Otis Worldwide to $95 from $97 and keeps an Equal Weight rating on the shares. While New Equipment orders are expected to soften globally in 2024, backlog supports growth, and Service continues to drive results with another year of solid growth/margin expansion expected, the firm says.