Carrier ( NYSE: CARR ) and Nvent Electric ( NYSE: NVT ) were downgraded to a Sector Weight rating from Overweight by analysts at Keybanc on concerns about slowing growth.
Carrier ( CARR ) faces the possibility that distributors of its heating, ventilation and air-conditioning products will reduce, or de-stock, their inventories as supply chains get back to normal. Pandemic-related lockdowns had disrupted the flow of goods.
“We feel an imminent de-stock is on the horizon near-term and will be more pronounced for Carrier ( CARR ) compared to peers,” Jeffrey D. Hammond, analyst at Keybanc said in a Dec. 12 report.
Nvent ( NVT ) faces the possibility that yearly order growth won’t be as strong as it was recently.
“Following the recent period of robust demand trends, we have become increasingly concerned on the durability of sustained order growth, particularly as incrementally tough compares approach,” according to Keybanc.
For further details see:
Carrier, Nvent downgraded to Sector Weight at Keybanc