Investment Thesis
Carrier Global provides HVAC, refrigeration, and fire/security solutions. Portfolio reshaping (Viessmann Climate acquisition, fire/security divestitures) accelerates transition to climate-first pure play.
- Climate & Energy: Heat pumps and building automation capture decarbonization spend.
- Refrigeration Leadership: Container and truck refrigeration benefit from cold-chain demand.
- Portfolio Actions: Divesting global fire/security while integrating Viessmann improves mix.