Oppenheimer raised the firm’s price target on Carlisle to $430 from $412 and keeps an Outperform rating on the shares. After reporting strong Q1 results and providing firm evidence that channel destocking was completed during Q4 and non-residential contractor backlogs holding at healthy levels, and Henry synergies pacing well ahead of deal plan, management lifted directional 2024 guidance, the analyst tells investors in a research note. The firm viewsrun-rate valuation metrics as sustainable and anticipates share price upside via continued earnings and cash flow outgrowth.
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