Carrier Global rises after Citi upgrades to 'buy', lifts PT
Updates
** Shares of air conditioner maker Carrier Global CARR.N up 3.16%at $64.87 after Citigroup upgrades to "buy" from "neutral"
** Brokerage raises PT to $74 from $65, implying a 17.7% upside to stock's last close of $62.88
** Citi says CARR's business portfolio transformation is progressing well; expects mid-single digits percentage growth in CARR's core markets over next two years
** CARR remains a work-in-progress and we don’t expect 'straight-line' improvement, but the company is well run... and we see room for further upside - Citi
** Says CARR has levers to help offset near-term headwinds from its Viessmann business unit
** Last year, CARR said it will buy German industrial firm Viessmann Group's unit that makes heating boilers and heat pumps in a 12 billion euros ($13.17 billion) cash-and-stock deal
** As of last close, stock up ~9.5% YTD
Reporting by Siddarth S in Bengaluru
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