Carlisle price target lowered to $440 from $465 at Oppenheimer

Oppenheimer lowered the firm’s price target on Carlisle (CSL) to $440 from $465 and keeps an Outperform rating on the shares. The firm notes shares fell 13.6% after Carlisle reported Q2 adjusted EPS of $6.27, below its/consensus $6.68/$6.58 estimates and lowered full-year guidance ranges. Given incrementally softer commercial new construction and residential demand, alongside somewhat idiosyncratic cost headwinds, management revised 2025 sales guidance to positive low-single-digit with EBITDA margin now projected to contract 150bps. Although the print was clearly underwhelming, Oppenheimer remains confident in underlying CCM strength, believes CWT affords material growth/earnings runway over the medium term, and sees CSL valuation as notably supportive following the stock’s pullback.