Universal Technologies (NYSE:UTX) Outlook Conservative Say FBR

At their outlook meeting in New York, guidance from Universal Technologies (NYSE:UTX) was considered to be conservative, and
should enjoy decent growth in 2011, said FBR.

They commented, "As expected, United Technologies provided modestly below-consensus 2011 EPS and revenue guidance at its well-attended outlook meeting in New York. Key assumptions appear conservative, including overall organic revenue growth of 3%–5% and implied incremental margins of - 25%. Five of the company’s six segments are expected to grow mid- to high-single digits organically, partially offset by modest declines at Pratt Whitney (24% of revs.)."

FBR Capital maintains a "Market Perform" on Universal Technologies, which closed Friday at $78.40, up $0.77, or 0.99 percent. They have a price target of $80 on them.