Benzinga | Dec 10, 2021 08:16AM EST

Deutsche Bank Downgrades Carrier To Hold Citing Lack Of Catalysts

* Deutsche Bank analyst Nicole DeBlase downgraded Carrier Global Corp (NYSE: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.