Re OTIS:
Looked through the OTIS investor day presentation this morning. ~3% annual growth and ~3-4% FCF yield is a rather firm price. Good for them for getting that valuation in this environment. To your direct question, my answer is I don't know :). I suspect the valuation is such that investors think OTIS's market will look similar decades from now as it does today. And that, in a sense, responds to the long term appeal.
Has any of the recent events, or trends that have emerged from social distancing changed your views with regards to natural resources/global demographic tailwind?
P.S. Could not find a presentation for Carrier, or easy to find financial information. If you have seen a Carrier presentation please send the link.
