March 18, 2013 at 09:51 AM EDT
Citigroup Upgrades United Technologies (UTX)

Citigroup reported on Monday that it has upgraded technology product company, United Technologies Corporation (UTX).

The firm has upgraded UTX to a “Buy,” and has given the company a $110 price target. This price target suggests a 15% increase from the stock’s current price of $92.88.

Analysts have raised their rating on the company based on its late cycle positioning. UTX also has an attractive valuation in comparison to its peers.

United Technologies shares were down 65 cents, or -0.70% during Monday morning trading. The stock has increased 9% in the past year.

The Bottom Line
Shares of United Technologies Corporation (UTX) have a 2.29% yield, based on Friday’s closing price of $93.28.

United Technologies Corporation (UTX) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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