Carrier Global (NYSE:CARR) Given New $70.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada lowered Carrier Global’s price target from $72 to $70 while maintaining an “outperform” rating, implying 31.46% upside from the stock’s previous close.
• Carrier’s latest quarter exceeded expectations, with adjusted EPS of $0.87 versus $0.76 expected and revenue of $6.26 billion, up 12.3% year over year. However, the company reported a GAAP loss of $3.16 per share due to a goodwill impairment charge.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $70.32, while shares recently traded down 4.1% at $53.25.

Carrier Global (NYSE:CARR - Get Free Report) had its price target decreased by equities research analysts at Royal Bank Of Canada from $72.00 to $70.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's price target indicates a potential upside of 31.46% from the stock's previous close.

Other analysts have also issued reports about the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Carrier Global in a research report on Friday, October 16th. Wolfe Research restated an "outperform" rating and issued a $80.00 price objective on shares of Carrier Global in a research report on Thursday, July 9th. Sanford C. Bernstein cut their price target on 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. Mizuho reduced their price objective on shares of Carrier Global from $75.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, October 15th. Finally, JPMorgan Chase & Co. began coverage on Carrier Global in a research report on Friday, October 9th. They issued a "neutral" rating and a $61.00 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $70.32.

Carrier Global Trading Down 4.1%

Shares of NYSE:CARR traded down $2.29 on Friday, hitting $53.25. 2,642,552 shares of the company's stock were exchanged, compared to its average volume of 6,695,466. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.02 and a quick ratio of 0.72. The stock has a market capitalization of $43.89 billion, a price-to-earnings ratio of 36.96, a price-to-earnings-growth ratio of 1.92 and a beta of 1.29. The business's 50 day simple moving average is $56.50 and its two-hundred day simple moving average is $61.72. Carrier Global has a 12 month low of $50.24 and a 12 month high of $76.76.

Carrier Global (NYSE:CARR - Get Free Report) last issued its earnings results on Thursday, October 29th. The company reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.11. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.09 billion. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. The company's quarterly revenue was up 12.3% compared to the same quarter last year. During the same period last year, the company posted $0.67 earnings per share. Analysts anticipate that Carrier Global will post 2.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Carrier Global

A number of institutional investors have recently made changes to their positions in CARR. Bank of New York Mellon Corp acquired a new stake in Carrier Global during the 2nd quarter worth $590,759,000. Bank of America Corp DE acquired a new stake in Carrier Global during the 2nd quarter worth approximately $572,908,000. Dimensional Fund Advisors LP grew its position in Carrier Global by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,291,311 shares of the company's stock valued at $354,188,000 after buying an additional 246,723 shares during the last quarter. Legal & General Group Plc purchased a new position in shares of Carrier Global during the 2nd quarter worth approximately $322,366,000. Finally, Primecap Management Co. CA purchased a new position in Carrier Global in the second quarter worth $283,585,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Carrier Global

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

• Positive Sentiment: Carrier’s third-quarter adjusted EPS of $0.87 exceeded the $0.76 consensus estimate, while revenue rose 12.3% year over year to $6.26 billion, topping estimates of $6.09 billion. Carrier Reports Third Quarter 2026 Results
• Positive Sentiment: Demand indicators were particularly strong: total orders increased approximately 35%, commercial HVAC orders rose about 60%, and data-center orders surged roughly 300%. Carrier reported a record backlog exceeding $8.5 billion and signed multibillion-dollar long-term agreements with minimum volume commitments. Carrier Global Q3 2026 Earnings Call Highlights
• Positive Sentiment: Management raised its full-year sales outlook, supported by HVAC demand, the backlog and tariff refunds. Operating cash flow was $813 million, free cash flow was $674 million, and roughly $600 million was returned to shareholders through dividends and repurchases. Carrier Q3 Earnings and Sales Beat
• Positive Sentiment: Carrier announced a more than $600 million expansion, which could increase capacity and support longer-term growth in climate and energy solutions. Carrier Announces Expansion
• Neutral Sentiment: Unusually heavy put-option activity—18,275 contracts, or about 189% above typical volume—signals increased hedging or bearish speculation, but does not by itself confirm a change in fundamentals.
• Negative Sentiment: GAAP EPS was a $3.16 loss because of a goodwill impairment charge. Although adjusted earnings were strong, the impairment and ongoing cost pressures may have prompted investors to question the quality and durability of reported profits. Carrier Reports Goodwill Impairment Charge

Carrier Global Company Profile

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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