Carrier Global price target raised to $53 from $48 at Barclays

Barclays analyst Julian Mitchell raised the firm’s price target on Carrier Global to $53 from $48 and keeps an Overweight rating on the shares after hosting investor meetings with management. The company, via portfolio action, is making substantial progress in enhancing both its technology depth and breadth, and hence its growth profile, the analyst tells investors in a research note. The firm believes this “is far from captured in the valuation.” As Carrier’s portfolio moves play out, Barclays thinks the stock’s multiple will re-rate.