Cowen Starts Carrier Global (CARR) at Market Perform
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Cowen analyst Gautam Khanna initiates coverage on Carrier Global (NYSE: CARR) with a Market Perform rating and a price target of $17.00.
The analyst comments "Newly minted CARR is a leveraged turnaround facing a cyclical downturn, with strong outsider management. We initiate at Market Perform with a 12-month price target of $17, which represents 11.4x C20 EV/EBITDA, a 10-15% discount to the valuation target we ascribe to CARR's closest peer, JCI."
Shares of Carrier Global closed at $14.69 yesterday.
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