Wolfe Research upgraded Carrier Global (CARR) to Outperform from Peer Perform with an $80 price target after meeting with management. Management is committed to delivering on its $3 earnings per share target in fiscal 2025 and has multiple tools, including price, productivity, and supply chain, to offset known areas of risk, the analyst tells investors in a research note. The firm cites Carrier’s “discounted” valuation, scope for accelerating organic growth through 2025 and 2026, portfolio stability, and commitment to returning cash to shareholders for the upgrade.
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