Wells Fargo & Company Forecasts Strong Price Appreciation for Carrier Global (NYSE:CARR) Stock

Key Points

• Wells Fargo raised its price target on Carrier Global to $71 (from $58), implying about a 4.8% upside, while analysts' consensus target is roughly $73.39 and the stock carries an overall "Moderate Buy" rating.
• Q1 beat: Carrier topped estimates with adjusted EPS $0.57 vs. $0.51 and revenue $5.34B vs. $5.01B, reaffirmed FY‑26 guidance of $2.80 EPS and ~$22B sales, and reported strong demand (data‑center orders +500% and Commercial HVAC +35%).
• Offsetting enthusiasm, operating cash flow was only $79M and free cash flow was negative (~$15M), with organic sales down ~1%, raising concerns about cash conversion and sustainability of growth.

Carrier Global (NYSE:CARR - Get Free Report) had its price target boosted by research analysts at Wells Fargo & Company from $58.00 to $71.00 in a research note issued to investors on Friday,MarketScreener reports. Wells Fargo & Company's price target suggests a potential upside of 4.82% from the stock's previous close.

CARR has been the topic of several other research reports. BNP Paribas Exane initiated coverage on Carrier Global in a report on Tuesday, April 14th. They issued a "neutral" rating and a $62.00 price target on the stock. The Goldman Sachs Group upped their price target on Carrier Global from $74.00 to $80.00 in a report on Friday. Rothschild & Co Redburn dropped their price target on Carrier Global from $67.00 to $61.00 and set a "neutral" rating on the stock in a report on Wednesday, January 21st. Barclays upped their price target on Carrier Global from $67.00 to $79.00 and gave the company an "overweight" rating in a report on Friday. Finally, Weiss Ratings upgraded Carrier Global from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, April 22nd. Thirteen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $73.39.

Carrier Global Trading Up 0.8%

Carrier Global stock opened at $67.74 on Friday. The firm has a 50 day simple moving average of $59.74 and a 200-day simple moving average of $57.72. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.05 and a quick ratio of 0.85. The stock has a market capitalization of $56.59 billion, a PE ratio of 39.61, a price-to-earnings-growth ratio of 2.68 and a beta of 1.38. Carrier Global has a 12-month low of $50.24 and a 12-month high of $81.09.

Carrier Global (NYSE:CARR - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.06. The firm had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.01 billion. Carrier Global had a return on equity of 14.81% and a net margin of 5.99%.The firm's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 earnings per share. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. As a group, equities research analysts expect that Carrier Global will post 2.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CARR. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Carrier Global during the third quarter worth approximately $25,000. YANKCOM Partnership lifted its holdings in shares of Carrier Global by 78.5% during the fourth quarter. YANKCOM Partnership now owns 473 shares of the company's stock worth $25,000 after buying an additional 208 shares during the last quarter. Torren Management LLC acquired a new position in shares of Carrier Global during the fourth quarter worth approximately $25,000. Global Wealth Strategies & Associates lifted its holdings in shares of Carrier Global by 150.0% during the fourth quarter. Global Wealth Strategies & Associates now owns 500 shares of the company's stock worth $26,000 after buying an additional 300 shares during the last quarter. Finally, True Wealth Design LLC lifted its holdings in shares of Carrier Global by 723.7% during the fourth quarter. True Wealth Design LLC now owns 486 shares of the company's stock worth $26,000 after buying an additional 427 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Carrier Global

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

• Positive Sentiment: Q1 beat and upbeat outlook — Carrier reported adjusted EPS $0.57 vs. $0.51 consensus and revenue $5.34B vs. $5.01B estimate; management reaffirmed FY‑26 adjusted EPS $2.80 and ~$22B sales while saying backlog fully covers expected 2026 data‑center sales. These results and the guidance re‑affirmation are the main drivers lifting the stock. PR Newswire: Carrier Reports First Quarter 2026 Results
• Positive Sentiment: Data‑center and Commercial HVAC momentum — Carrier highlighted data‑center orders up over 500% and Commercial HVAC orders +35%, with total company orders +11%, signaling durable demand in higher‑margin segments. Seeking Alpha: Data‑center demand story
• Positive Sentiment: Analyst upgrades and price‑target increases — Multiple firms raised targets (examples: Evercore to $85, RBC to $81, Goldman to $80, Citi to $79, others), reinforcing bullish sentiment and providing fresh buy‑side interest. Benzinga: Analysts boost forecasts
• Positive Sentiment: Shareholder returns — Company returned about $500M in the quarter through dividends and repurchases, which supports valuation and investor confidence. PR Newswire: Capital returns
• Neutral Sentiment: Management commentary and detail — The earnings‑call transcript and slide deck provide color on product mix, backlog and timing for data‑center revenue; useful for confirming sustainability but not an immediate catalyst by itself. Seeking Alpha: Q1 call transcript
• Positive Sentiment: Insider buy — CEO David Gitlin bought shares recently, a signal some investors view as management confidence in the outlook. QuiverQuant: Insider activity
• Negative Sentiment: Cash conversion and organic trends — Operating cash flow was $79M and free cash flow was negative (~$15M) in the quarter; organic sales were down ~1% and GAAP EPS ($0.28) lagged the prior year, which could temper enthusiasm if cash conversion and organic growth don’t improve. PR Newswire: Financial details

Carrier Global Company Profile

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.

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