Wachovia Cuts United Technologies to Buy

Analyst Sam Pearlstein sees investor uncertainties relating to the techology products company's succession plan, among other issues

Wachovia cut its rating on United Technologies (UTX ) to buy from strong buy, saying it ses uncertainties among investors relating to the techology products company's succession plan among other issues. The company announced Karl Krapek, its president and chief operating officer will retire. UTX also reiterated that it is confident it will meet earnings consensus figures.

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