United Technologies' stock is running up 2.8% in afternoon trade Tuesday, making it the biggest percentage gainer among Dow Jones Industrial Average components, after it was upgraded to outperform from market perform at Wells Fargo. Analyst Sam Pearlstein also raised his valuation range for the industrial conglomerate's shares to $115 to $120 from $110 to $115. He said the stock's risk-versus-reward profile has become more attractive, after the company said on Monday its CEO, Louis Chenevert, retired effective immediately after 22 years with the company. Through Monday, the stock had lost 4.4% year to date, compared with a 7.5% gain in the Dow. Pearlstein believes the stock is now positioned to outperform into the Dec. 11 analyst meeting, as he believe investors have "a very positive view" of newly elected CEO Greg Hayes.
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