Carlisle price target raised to $440 from $375 at Loop Capital

Loop Capital raised the firm’s price target on Carlisle to $440 from $375 and keeps a Buy rating on the shares as part of a broader research note on Building Products. The firm is boosting its estimates after “another round of better-than-expected roofing checks” and sees upside to Q1 on volume and FY24 on pricing. Carlisle shares have been decidedly strong over the last several months, but the firm sees continued upside on both near-to-mid term earnings momentum, M&A accretion once the MTL Holdings deal closes, and multiple expansion as the shares could be comped to other high quality/high margin building product pure-plays, Loop added.