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With a market cap of $60.4 billion, Carrier Global Corporation (CARR) is a leading provider of intelligent climate and energy solutions, serving customers worldwide across residential, commercial, and industrial markets. Operating primarily through its HVAC and Refrigeration segments, the company delivers advanced technologies and services under renowned brands like Carrier, Bryant, Toshiba, and Viessmann.
Shares of the Palm Beach Gardens, Florida-based company have slightly lagged behind the broader market over the past 52 weeks. CARR has risen 8.9% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 9.2%. However, shares of Carrier Global are up 4.1% on a YTD basis, outpacing SPX’s 3.7% dip.
Focusing more closely, Carrier Global has slightly outperformed the Industrial Select Sector SPDR Fund’s (XLI) 8.5% return over the past 52 weeks.
Shares of Carrier Global climbed 11.6% on May 1 after the company beat Q1 2025 adjusted earnings expectations, reporting $0.65 per share. It also raised its full-year 2025 profit forecast to $3 per share - $3.10 per share, above analysts' average estimate. Strong demand for HVAC products and aftermarket services, driven by rising global temperatures, energy regulations, and the adoption of heat pumps, boosted investor confidence.
For the fiscal year ending in December 2025, analysts expect CARR’s EPS to grow nearly 18% year-over-year to $3.02. The company's earnings surprise history is promising. It topped the consensus estimates in the last four quarters.
Among the 22 analysts covering the stock, the consensus rating is a “Moderate Buy.” That’s based on 13 “Strong Buy” ratings, one “Moderate Buy,” and eight “Holds.”
This configuration is more bullish than three months ago, with 10 “Strong Buy” ratings on the stock.
On May 5, Wells Fargo analyst Joseph O’Dea raised Carrier Global’s price target to $75 while maintaining an “Equal Weight" rating, citing strong CSA margins and Residential and Commercial revenue. The firm flagged risks from CSA Residential demand softness and EU Residential market pressure.
As of writing, CARR is trading below the mean price target of $78.21. The Street-high price target of $94 implies a potential upside of 32.4% from the current price levels.
