Otis Worldwide price target raised to $80 from $77 at Barclays

Barclays raised the firm’s price target on Otis Worldwide to $80 from $77 and keeps an Equal Weight rating on the shares. The analyst believes Q4 played out largely as expected for the multi-industry group, with sales under pressure in early cycle, residential, consumer and short cycle industrial markets but with little change in the “still-strong” long cycle industrial world. The firm maintains a Neutral sector view heading into the Q4 reports.