UPDATE: Credit Suisse Starts Carlisle (CSL) at Neutral

Credit Suisse analyst Daniel Oppenheim initiates coverage on Carlisle (NYSE: CSL) with a Neutral rating and a price target of $275.00.

The analyst comments "Commercial Re-roofing Cycle Provides CSL with Predictable and Growing Revenue: Carlisle Construction Materials – the key driver for CSL – generates revenue from the consistent commercial re-roofing cycle, making its revenue and cash flow more predictable than for other building products companies. Its 3Q21 acquisition of Henry also transformed CSL into a key operator in waterproofing and air/vapor barrier systems, with growth likely in this area. Further Growth in Construction Materials and Interconnect Technologies While Reducing Leverage: As part of CSL’s Vision 2025 plan, we expect the company to focus its capital allocation toward boosting building envelope solutions (Carlisle Construction Materials) and wiring and cables (Carlisle Interconnect Technologies). We also expect CSL to reduce its leverage to 24% by the end of 2023, down from 46% at the end of 2021."

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

Shares of Carlisle closed at $247.91 yesterday.

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