JPMorgan analyst Stephen Tusa raised the firm’s price target on Otis Worldwide (OTIS) to $105 from $101 and keeps an Overweight rating on the shares. The firm sees the company’s Services business accelerating to high-single-digit growth over the medium term. Otis offers a “non-consensus defensive growth story” with an installed base at the beginning of a modernization cycle, the analyst tells investors in a research note.
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