Baird upgraded Carrier Global to Outperform from Neutral with a price target of $75, up from $64. The analyst sees multiple catalysts that could play out over the next 12-18 months for the company, including asset sales, buybacks and reaccelerating residential trends. Carrier has scope for longer-term multiple expansion, the analyst tells investors in a research note. Europe remains a key risk for the company, but rest of its portfolio is performing well and improving, contends Baird.
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