Cowen Starts Carrier Global (CARR) at Market Perform

April 22, 2020 5:49 AM EDT
Get Alerts CARR Hot Sheet
Price: $51.45 +1.26%

Rating Summary:
    14 Buy, 6 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 18 | Down: 11 | New: 23
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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."

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 $14.69 yesterday.

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