NewsHK
The buildings services sector has hit a rough patch, and Otis, the elevator manufacturer, is asking investors to sit with it through that cycle.
The company has positioned itself as a long-term growth stock and, specifically, as a defensive play in a volatile market. Shares have moved lower anyway.
Setbacks in its elevator service business have clouded the story, and a broad rotation toward AI-related names has pulled capital away from industrial infrastructure players.
Service revenue is the whole argument For an elevator company, the long-cycle pitch rests almost entirely on the service side of the business.
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