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Technology Stocks : United Technologies (UTX)
UTX 154.400.0%Jan 17 12:00 AM EST

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To: Patriarch who wrote ()2/20/2000 3:40:00 PM
From: Patriarch   of 25
 
RESEARCH ALERT - United Technologies raised

NEW YORK, Feb 17 (Reuters) - Merrill Lynch said analyst Jeanne Terrile raised the intermediate-term rating on United Technologies Corp. (NYSE: UTX) to buy from accumulate.

-- In October, Terrile raised the long-term rating to buy from accumulate but kept the intermediate-term rating at accumulate due to anxiety over aerospace business.

-- "We think that anxiety is passing and we think that the aerospace business is bottoming," Terrile said in a report Thursday.

-- Merrill is confident that United Technologies can deliver 15 percent or greater earnings per share growth in 2000 and 2001.

-- Keeping 2000 earnings estimate of $3.45-$3.50 a share and 2001 estimate of $4.00 a share.

-- Sees $70 12-month stock price based on a multiple of 20 times 2000 EPS.

-- The shares closed at 52-1/8 Wednesday on the New York Stock Exchange
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