Wells Fargo analyst Joe O'Dea maintains $Otis Worldwide (OTIS.US)$ with a hold rating, and maintains the target price at $105.
According to TipRanks data, the analyst has a success rate of 59.5% and a total average return of 8.7% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Otis Worldwide (OTIS.US)$'s main analysts recently are as follows:
The company's significant exposure to capital expenditures and its substantial valuation could pose challenges for the stock's performance leading into 2025.
The forecast for Otis Worldwide has been adjusted to account for ongoing challenges in China, which are expected to continue affecting new equipment volume and profit margins. As a result, projections for adjusted earnings per share in 2024 and 2025 have been modestly reduced. Despite the headwinds, China remains a significant market for Otis, although its contribution to overall revenue is anticipated to shift from a higher to a lower teens percentage.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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