Carlisle’s new products improve on legacy product performance, says Loop Capital

Loop Capital analyst Garik Shmois keeps a Buy rating and $475 price target on Carlisle but notes that the firm’s recent visit to the company’s R&D lab and one of their TPO manufacturing plants provided a better understanding on how Carlisle plans to accelerate R&D spend to 3% of sales-consistent with its Vision 2030 goal. The event made clear that many of the industries that Carlisle plays in has lacked in innovation over the past many years, and that there are plenty of opportunities for Carlisle to accelerate a first mover advantage, the analyst tells investors in a research note, adding that there were a number of newly introduced products that improve on legacy product performance, enhance energy efficiency, and meaningfully improve contractor labor rates.