Mizuho downgraded Carrier Global to Neutral from Buy with a price target of $61, down from $63. The analyst cites valuation for the downgrade with the shares up 37% year-to-date. The company’s recent transactional announcements, namely a spin-out versus a sale of Fire, reduces the “cash out” economics by $2.2B, and “technical noise could ensue,” the analyst tells investors in a research note.
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