Stephens reiterates an Overweight rating and $55 price target on Carrier Global after The Wall Street Journal reported on Monday that Carrier is in advanced discussions to buy Viessmann. The firm expects share volatility to persist into earnings, especially given potential new share issuance, and while the deal would potentially augment Carrier’s exposure to the growth market for heat pumps and related battery storage systems, investors may remain sidelined given the significant size of the transaction, the analyst says in a research note.
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