Carrier Global Sells Commercial And Residential Fire Business For $3B, Proceeds To Be Utilized For Stock Buybacks
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 16 2024
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Source: Benzinga
Sale of Fire Business: Carrier Global Corporation plans to sell its Commercial and Residential Fire business to Lone Star Funds for $3 billion as part of a portfolio transformation, following the acquisition of Viessmann Climate Solutions and other divestitures.
Financial Impact and Future Plans: The sale is expected to close by the end of 2024 and will provide approximately $2.2 billion in net proceeds for share repurchases, while Carrier has significantly reduced its net debt by over $5 billion this year.
Analyst Views on FPX
Wall Street analysts forecast FPX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FPX is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 166.830
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Current: 166.830
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
