As previously reported, Wells Fargo analyst Joseph O’Dea upgraded Otis Worldwide to Equal Weight from Underweight with a price target of $88, up from $75. The firm believes the stock looks "increasingly attractive" for its unique defensive characteristics through the sizable Service profit stream. Nonetheless, Wells thinks shares are also expensive, hence the Equal Weight rating.
Published first on TheFly
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Read More on OTIS:
- Otis Worldwide upgraded to Equal Weight from Underweight at Wells Fargo
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- OTIS REPORTS FIRST QUARTER 2023 RESULTS
- Otis Worldwide reports Q1 EPS 80c, consensus 73c
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