Oppenheimer initiated coverage of Carrier Global with an Outperform rating and $51 price target. Carrier has executed well since its 2020 spin, said the firm, which sees "further runway for multiple levers of value creation," including aftermarket/digital solutions growth and productivity gains. Further, the firm views portfolio management opportunities as re-rating catalysts and believes improving free cash flow conversion can support a narrowing of the stock’s valuation discount versus peers.
Published first on TheFly
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