Oppenheimer Reiterates Outperform Rating on Carrier Global (CARR)

Oppenheimer analyst Noah Kaye reiterated an Outperform rating and $88.00 price target on Carrier Global (NYSE: CARR).

The analyst commented: "Shares traded down hsd Thursday after CARR beat the consensus 3Q adj. EPS estimate on better margin performance while maintaining FY24 core EPS outlook. We believe the reaction partly reflected headline confusion related to portfolio transformation (Fire & Security now disc. ops,), with VCS incremental softness and September NorAm orders decel also factors. However, core FY24 EPS outlook and the FY25 growth framework for FY25 were unchanged. Positive 3Q orders/backlog (+20%/+dd y/y) trends, soft EMEA/APAC comps, productivity levers, and develeraging/buybacks suggest 20%+ EPS growth is achievable for FY25. We update estimates and maintain our $88 PT."

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 $72.90 yesterday.

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