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Goldman bullish on United Technologies

Goldman upgraded shares of the aerospace and defense company United Technologies Corporation (NYSE:UTX) to buy from neutral with a price target of $138 a share, $15 above the prior target level. According to Goldman, “The end-market stars are aligning for United Technologies”. Goldman cited United’s construction operations overseas and strong product portfolios to profit in a lower defense spending environment as reasons for the upgrade. Goldman is more bullish on United Technologies than the Boeing Company (NYSE:BA), as it downgraded Boeing to neutral from buy in the same analyst report.