United Tech shares up after 2011 forecast

* Company sees 7-14 pct profit growth next year

* Shares rise 1 pct

BOSTON, Dec 10 (BestGrowthStock) – Shares of United Technologies
Corp (UTX.N: ) rose 1 percent Friday morning, a day after the
diversified U.S. manufacturer said profit could rise 7 percent
to 14 percent next year.

The stock’s gains reversed a decline in postmarket trading
Thursday after the company released its forecast. Analysts said
the low end of the forecast reflected a conservative approach.

“We believe UTC’s outlook includes many conservative
assumptions,” Sterne Agee analyst Nick Heymann wrote in a note
to clients.

United Tech shares rose $1.01 to $78.64 in early trading on
the New York Stock Exchange.

Chief Executive Louis Chenevert told investors on Thursday
that the company expects organic revenue — which exclude
acquisitions and the effect of currency fluctuations — to rise
3 percent to 5 percent next year as strong demand in emerging
economies offsets an unsteady U.S. recovery.

“(United Tech) has embedded relatively conservative 3.3
percent growth in 2011, which is driving the slightly weaker 3
to 5 percent core growth projection,” Deutsche Bank analyst
Nigel Coe wrote in a note to clients.

The Hartford, Connecticut-based company’s shares are up
about 12 percent this year, outpacing a 9 percent gain in the
Dow Jones industrial average (.DJI: ), of which it is a
component.

United Tech is among a group of major U.S. manufacturers
setting out their 2011 expectations this month. Earlier this
week 3M Co (MMM.N: ) forecast organic sales growth of 5.5 percent
to 7.5 percent, warning that economic headwinds might bring it
in short of its long-term growth target of 8 percent to 9
percent and sending its shares down.

General Electric Co (GE.N: ) and Honeywell International Inc
(HON.N: ) are due to weigh in next week.
(Reporting by Scott Malone; editing by John Wallace)

United Tech shares up after 2011 forecast