FMP
Takeaways From Carlisle Companies’ Virtual NDR
Sep 15, 2021 6:51 PM - Davit Kirakosyan
Image credit: FMP
Analysts at Oppenheimer hosted meetings with Bob Roche and Jim Giannakouros, the CFO and VP of IR of Carlisle Companies Incorporated (NYSE:CSL), respectively. According to the analysts, the Q&A reinforced their bullish view on core CCM momentum into 2022. Adding Henry Co. accretion, incremental capital deployment (CCM building envelope expansion plus opportunistic repurchases), and CIT/CFT recovery prospects, Oppenheimer continues to see material 2022 earnings upside and a viable path to ~$15 in 2023 EPS.
According to the analysts, pervasive supply chain tightness/uncertainty adds risk to near-term numbers (by no means unique to Carlisle) and they would aggressively buy into further trading weakness (shares -9% since 8/30 vs. S&P -2%) given CCM's unique positioning and value creation levers/optionality across the portfolio.
Oppenheimer reiterated its Outperform rating and $250 price target on the company’s shares.
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