RBC Capital analyst Deane Dray raised the firm’s price target on Carrier Global to $64 from $54 and keeps an Outperform rating on the shares. The company’s “solid” Q3 operating earnings beat was driven by upside growth/margins in the HVAC segment, the analyst tells investors in a research note. Carrier also disclosed that price/cost was positive in the quarter and that backlog remains twice the 2019 levels, giving “plenty of visibility”, the firm added.
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