Deutsche Bank Downgrades Carrier Global To Hold Citing Lack Of Catalysts

December 10, 2021 8:16 AM | 1 min read | Make a Comment

Deutsche Bank analyst Nicole DeBlase downgraded Carrier Global Corp CARR to Hold from Buy and lowered the price target to $56, from $58.
DeBlase says the stock now trades at a premium to the peer group, and consensus forecasts for 2022 "do not look particularly conservative," embedding 12% organic growth.
As such, the analyst thinks Carrier shares now lack a catalyst "to propel its next wave of outperformance."
Recently, Carrier Global increased its quarterly dividend by 25% to $0.15 per share, payable on February 10, 2022, to shareowners of record at the close of business on December 23, 2021.
Price Action: CARR shares are trading lower by 1.64% at $55.07 during the premarket session on Friday.