Cowen & Co. Gives a Buy Rating to Otis Worldwide (OTIS)
In a report issued on October 26, Cai Rumohr from Cowen & Co. assigned a Buy rating to Otis Worldwide (OTIS), with a price target of $75.00. The company’s shares closed last Thursday at $65.49, close to its 52-week high of $68.21.
According to TipRanks.com, Rumohr is a 4-star analyst with an average return of 6.9% and a 60.8% success rate. Rumohr covers the Technology sector, focusing on stocks such as Raytheon Technologies, Science Applications, and Spirit AeroSystems.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Otis Worldwide with a $68.00 average price target.
See today’s analyst top recommended stocks >>
Based on Otis Worldwide’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $3.27 billion and net profit of $266 million. In comparison, last year the company earned revenue of $3.31 billion and had a net profit of $317 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Otis Worldwide Corp is an elevator and escalator manufacturing, installation and service company. The firm is organized into two segments namely New Equipment and Services. The New Equipment segment is engaged in designing, manufacturing, selling and installation of passenger and freight elevators, as well as escalators and moving walkways for residential and commercial buildings and infrastructure projects. The service segment involved in maintenance and repair services and also provide modernization services to upgrade elevators and escalators. It generates a majority of its revenue from the Service segment.
Read More on OTIS: