United Technologies share price is undervalued; Buy before the merger

Even if United Technologies (NYSE: UTX) the stock price has climbed 25% since the start of the year, stocks still have significant upside potential. The stock is trading at attractive valuations while financial numbers support stock price dynamics.

UTX United Technologies Corporation Daily Stock Chart

The United Technologies share price is currently trading slightly below the 52-week high of $ 144. Analysts believe UTX shares have upside potential due to its investment in growth opportunities as well as new business.

Robert W. Baird named United Technologies “Bullish fresh picksAnalyst Peter Arment believes investors should aggressively buy this stock to take advantage of its attractive valuations. The analyst says UTX has upside potential of 30-40%.

United Technologies share price ...

The company generated 18% revenue growth in the second quarter compared to the period last year.

He also raised the outlook for the full year thanks to the additional revenues generated by the acquisition of Rockwell Collins.

CEO Gregory Hayes said: “We continued to outperform Collins Aerospace this quarter as we made significant progress in integrating Rockwell Collins, which more than offset weakness in Carrier’s end markets. “

United Technologies share price ...

The company seeks to establish the Otis and Carrier segments as independent companies. The company is also working on the merger strategy with Raytheon. The merger of two large companies will create a leading company in the field of aerospace and defense systems. The merger is likely to increase its high-tech systems.

The company expects to generate adjusted earnings per share of $ 7.90 to $ 8.05 in fiscal 2019. This figure is higher than previous forecast of $ 7.80 to $ 8.00 per share.

United Technologies share price ...

Potential organic growth of up to 5% contributed to profit and revenue growth. It forecasts annual sales of between $ 75.5 billion and $ 77.0 billion, while free cash flow is expected to be in the range of $ 4.5 billion to $ 5.0 billion.

Overall, there are several catalysts supporting the upward momentum in the United Technologies share price. Therefore, buying and holding this stock before the merger seems like a good strategy.

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