Otis Worldwide Corp Ordinary Shares

OTIS: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$316.00	Tqvld	Rhzrvjp

Otis Reports In-Line Full-Year Results; Chinese New-Equipment Market Expected to Decline in 2022

Denise Molina

Jan 31, 2022

There were no big surprises in Otis' full-year results, which were in line with our forecasts and management guidance. Guidance for 2022 is also broadly in line with our expectations, although the regional mix points to an expected decline in the Chinese new-equipment market, where wide-moat competitor Kone has the highest exposure. We are maintaining our fair value estimate and wide moat rating for Otis.

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