Carlisle price target raised to $405 from $355 at Oppenheimer

Oppenheimer raised the firm’s price target on Carlisle to $405 from $355 and keeps an Outperform rating on the shares following the company’s definitive agreement to acquire MTL Holdings. In the firm’s view, the acquisition is down-the-middle regarding Carlisle’s strategic pivot to a pure-play building products company and the rollout of Vision 2030. The deal follows the pending sale of Interconnect Technologies, firmly establishes Carlisle as one of the industry’s most comprehensive providers of architectural metal products, and naturally furthers the team’s strategic path in building envelope expansion, Oppenheimer adds.