RBC Capital lowered the firm’s price target on Otis Worldwide (OTIS) to $105 from $108 but keeps an Outperform rating on the shares. The company’s Q2 results also saw the management cut its guidance for the fourth consecutive quarter, and the firm believes that Otis needs to return to the steady operational delivery that characterized its performance until 2024, the analyst tells investors in a research note. RBC adds however that despite recent disappointments, it still considers Otis to be among the highest-quality companies in its coverage.
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