Carrier Global (NYSE:CARR) Given New $65.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo lowered Carrier Global’s price target to $65 from $67 while maintaining an “overweight” rating, implying 22.07% upside from the prior close.
• Analyst sentiment remains mixed but leans positive: Carrier has a “Moderate Buy” consensus rating and an average target of $70.10, although several firms recently reduced their targets.
• Shares fell 4.1% to $53.25 despite the company beating quarterly earnings and revenue estimates, with EPS of $0.87 and revenue of $6.26 billion, up 12.3% year over year.

Carrier Global (NYSE:CARR - Get Free Report) had its price target reduced by research analysts at Wells Fargo & Company from $67.00 to $65.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's price target indicates a potential upside of 22.07% from the company's previous close.

Other equities analysts have also issued research reports about the company. BNP Paribas Exane decreased their price target on Carrier Global from $68.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday. Sanford C. Bernstein reduced their target price on shares of Carrier Global from $78.00 to $64.00 and set a "market perform" rating for the company in a research note on Wednesday, October 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of Carrier Global in a research note on Friday, October 16th. Deutsche Bank Aktiengesellschaft cut their price objective on Carrier Global from $71.00 to $64.00 and set a "hold" rating on the stock in a research note on Wednesday, September 30th. Finally, Citigroup boosted their target price on Carrier Global from $79.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, July 13th. Eleven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.10.

Carrier Global Stock Down 4.1%

Shares of CARR traded down $2.29 during trading on Friday, reaching $53.25. The company's stock had a trading volume of 4,382,653 shares, compared to its average volume of 6,703,897. The company has a market cap of $43.89 billion, a price-to-earnings ratio of 37.01, a P/E/G ratio of 1.92 and a beta of 1.29. The company has a fifty day moving average of $56.50 and a two-hundred day moving average of $61.72. The company has a quick ratio of 0.72, a current ratio of 1.02 and a debt-to-equity ratio of 0.77. Carrier Global has a twelve month low of $50.24 and a twelve month high of $76.76.

Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.11. The firm had revenue of $6.26 billion for the quarter, compared to analysts' expectations of $6.09 billion. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%. Carrier Global's revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 earnings per share. On average, sell-side analysts predict that Carrier Global will post 2.87 EPS for the current fiscal year.

Institutional Trading of Carrier Global

A number of hedge funds and other institutional investors have recently made changes to their positions in CARR. Johnson Financial Group Inc. acquired a new stake in shares of Carrier Global in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. bought a new stake in shares of Carrier Global during the second quarter valued at approximately $26,000. Latitude Advisors LLC acquired a new position in shares of Carrier Global during the third quarter worth approximately $27,000. Financial Management Professionals Inc. raised its position in shares of Carrier Global by 142.4% during the second quarter. Financial Management Professionals Inc. now owns 383 shares of the company's stock worth $28,000 after purchasing an additional 225 shares during the period. Finally, Downshift Financial LLC lifted its holdings in shares of Carrier Global by 69.5% in the 3rd quarter. Downshift Financial LLC now owns 517 shares of the company's stock worth $28,000 after purchasing an additional 212 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

More Carrier Global News

Here are the key news stories impacting Carrier Global this week:

• Positive Sentiment: Third-quarter results exceeded expectations: adjusted EPS was $0.87 versus the $0.76 consensus, while revenue increased 12% year over year to $6.26 billion, topping the $6.09 billion estimate. Carrier Reports Third Quarter 2026 Results
• Positive Sentiment: Demand indicators were strong, with total orders up approximately 35%, commercial HVAC orders up about 60% and data-center orders surging roughly 300%. Carrier also reported a record backlog above $8.5 billion and signed long-term agreements with multibillion-dollar minimum volume commitments. Carrier Global Q3 2026 Earnings Call Highlights
• Positive Sentiment: Management raised its full-year 2026 sales outlook, supported by HVAC demand, backlog growth and tariff refunds. Operating cash flow was $813 million, free cash flow was $674 million, and approximately $600 million was returned to shareholders through dividends and repurchases. Carrier Global Q3 Adjusted Profit, Sales Rise
• Neutral Sentiment: Royal Bank of Canada lowered its price target from $72 to $70 but maintained an “outperform” rating, implying substantial potential upside from recent trading levels. Royal Bank of Canada Carrier Ratings
• Negative Sentiment: BNP Paribas Exane cut its target from $68 to $60 and assigned a “neutral” rating, signaling less confidence in near-term appreciation despite the target remaining above the current share price. BNP Paribas Exane Carrier Ratings
• Negative Sentiment: GAAP EPS was negative $3.16 because of a goodwill impairment charge. Although the adjusted result was profitable, the charge may be weighing on sentiment and highlighting execution or asset-valuation concerns. Carrier Goodwill Impairment Charge
• Negative Sentiment: Put-option volume was approximately 189% above normal, indicating increased bearish hedging or speculation around the shares.

About Carrier Global

Carrier Global Corporation NYSE: CARR is a global provider of intelligent climate and energy solutions. The company develops and manufactures heating, ventilation and air-conditioning (HVAC) systems, refrigeration equipment, building automation technologies and related controls and services for residential, commercial and industrial customers.

Its offerings include air conditioners, heat pumps, furnaces, boilers, chillers, ventilation systems, refrigeration systems and building management solutions.

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