Carrier Global's Weaker Fundamental Metrics In Focus: JP Morgan Analyst Sees Less Room To Run
Portfolio Pulse from Nabaparna Bhattacharya
JP Morgan analyst C. Stephen Tusa has downgraded Carrier Global Corporation (CARR) to Underweight from Neutral, raising the price target to $53 from $46. Despite the company's stock outperforming its group, the analyst sees less room for growth due to weaker fundamental metrics. Tusa also notes that Trane Technologies Plc (TT) is a more attractive option based on FCF-based valuation.

October 06, 2023 | 6:11 pm
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NEGATIVE IMPACT
Carrier Global Corporation has been downgraded by JP Morgan due to weaker fundamental metrics and less room for growth.
The downgrade by JP Morgan, a major financial institution, is likely to negatively impact investor sentiment towards CARR. The analyst's comments about weaker fundamental metrics and less room for growth could lead to a sell-off in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Trane Technologies Plc is seen as a more attractive option by JP Morgan analyst C. Stephen Tusa.
The positive comments by the JP Morgan analyst about TT being a more attractive option could lead to increased investor interest and a potential rise in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 60