01:29 PM EST, 11/13/2024 (MT Newswires) -- Carrier Global's ( CARR ) increased focus as a pure play heating, ventilation, and air conditioning company, following $8 billion divestitures, indicates positive growth prospects, according to UBS.

At the same time, order trends have improved, the firm said in a note sent Wednesday.

"Based on our assessment of order activity and a strong focus on execution, we see opportunity for positive revisions over the next 12 months, which drives our above consensus forecasts of over 20% [earnings per share] growth in 2025," UBS said.

Additional support from share buyback is likely, the firm said, projecting "meaningful" repurchases in the coming quarters following completion of the divestitures and debt repayments. UBS is looking at repurchases of more than 50 million shares over the next 12 months, equal to over 5% of the company's total share capital base.

UBS assumed Carrier coverage with a buy rating and a $94 price target.

Company shares were up nearly 2% in recent trading.

Price: 76.79, Change: +1.35, Percent Change: +1.79