UPDATE: Morgan Stanley Upgrades Carrier Global (CARR) to Overweight

Morgan Stanley analyst Joshua Pokrzywinski upgraded Carrier Global (NYSE: CARR) from Equalweight to Overweight with a price target of $53.00 (from $41.00).

The analyst comments "CARR is regaining share through new products and better service attachment at what we believe is still an early point in a commercial building modernization supercycle. We believe this supercycle will accelerate CHVAC retrofit markets from LSD to HSD over the foreseeable future. We see risk/reward as highly favorable relative to depressed valuation, improving product capability, and portfolio optionality. We believe portfolio optionality in Fire & Security as well as share reclamation potential in residential HVAC act as partial offsets to otherwise modest commercial HVAC exposure vs. peers."

For an analyst ratings summary and ratings history on Carrier Global click here. For more ratings news on Carrier Global click here.

Shares of Carrier Global closed at $41.09 yesterday.

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