Carlisle named 2024 Best Idea at Loop Capital

Loop Capital analyst Garik Shmois raised the firm’s price target on Carlisle to $375 from $325 and keeps a Buy rating on the shares. The firm has also named the stock as its 2024 Best Idea, stating that it sees a number of catalysts driving earnings upside potential for the company through the year. Non-residential construction names are expected to return to favor after underperforming relative to residential focused stocks last year, given the typical 12-18 month lag between new residential and commercial construction starts, the analyst tells investors in a research note. Loop Capital also contends that the easy comps and the potential for restocking should drive Carlisle’s FY24 EPS above consensus.