Deutsche Bank Downgrades Carrier Global To Hold Citing Lack Of Catalysts

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.