Carrier Global price target lowered to $70 from $71 at Oppenheimer

Oppenheimer analyst Noah Kaye lowered the firm’s price target on Carrier Global to $70 from $71 and keeps an Outperform rating on the shares. Carrier beat Q2 consensus estimates for EPS and reiterated FY guidance amid a softer top line, the analyst tells investors in a research note. While a lower near-term outlook for Viessmann Climate Solutions will perpetuate a debate on long-term returns for the acquisition, early sales and cost synergies capture should support stronger incrementals on a market recovery, the firm says.