Carrier Global Stock: Is Wall Street Bullish or Bearish?

Carrier Global Corporation (CARR), headquartered in Palm Beach Gardens, Florida, provides heating, ventilating, air conditioning, refrigeration, fire, security, and building automation technologies. Valued at $43.6 billion by market cap, the company also provides building services such as audit, design, installation, system integration, repair, maintenance, and monitoring. 

Shares of this global leader in intelligent climate and energy solutions have underperformed the broader market over the past year. CARR has declined 8.5% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 12.2%. In 2026, CARR stock is down marginally, compared to the SPX’s 10.3% rise on a YTD basis.

Narrowing the focus, CARR’s underperformance is also apparent compared to the State Street SPDR S&P Homebuilders ETF (XHB). The exchange-traded fund has declined about 2.7% over the past year. Meanwhile, the ETF’s marginal dip on a YTD basis mirrors the stock’s marginal losses over the same time frame.

CARR reported strong Q3 results with sales up 12.3% year over year to $6.3 billion, driven by surging data center demand, including a $3 billion hyperscaler agreement, and a 15% rise in organic sales. Despite this robust top-line expansion and a record backlog, shares faced margin pressures due to input cost inflation, tariffs, and freight expenses that temporarily outpaced price realization. Looking ahead, management is ramping up capacity with a new Fort Worth facility, implementing price increases of up to 10%, and focusing on productivity to drive double-digit EPS growth next year.

For the current fiscal year, ending in December, analysts expect CARR’s EPS to grow 10% to $2.85 on a diluted basis. The company’s earnings surprise history is mixed. It beat the consensus estimate in three of the last four quarters while missing the forecast on another occasion.

Among the 25 analysts covering CARR stock, the consensus is a “Moderate Buy.” That’s based on 11 “Strong Buy” ratings, one “Moderate Buy,” and 13 “Holds.”

This configuration is less bullish than a month ago, with 12 analysts suggesting a “Strong Buy.”

On Nov. 2, Baird analyst Timothy Wojs kept an “Outperform” rating on CARR and lowered the price target to $70, implying a potential upside of 33.3% from current levels.

The mean price target of $67.65 represents a 28.8% premium to CARR’s current price levels. The Street-high price target of $88 suggests an ambitious upside potential of 67.6%. 

On the date of publication, Neha Panjwani did not directly have a position in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.