RBC Capital raised the firm’s price target on Carrier Global (CARR) to $74 from $70 and keeps an Outperform rating on the shares. The driver of the company’s Q4 miss was residential downside pressuring Americas revenue and margin, the analyst tells investors in a research note. RBC adds however that Carrier is benefitting from strong growth in Commercial HVAC with leverage to multi-year secular drivers/mega-projects, including robust datacenter growth.
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