Carrier Global: Hold Rating Amid Balanced Growth Projections and Market Challenges

Analyst Andrew Obin from Bank of America Securities reiterated a Hold rating on Carrier Global (CARR – Research Report) and increased the price target to $83.00 from $73.00.

Andrew Obin has given his Hold rating due to a combination of factors including Carrier Global’s medium-term growth projections and market dynamics. The company has maintained its guidance for organic growth, margin expansion, and free cash flow, with an increased EPS growth target. However, the growth outlook for certain segments like Commercial HVAC and data centers appears conservative, despite expectations for a rebound in light commercial sectors post-2025.
Additionally, while the European market is expected to accelerate growth, with initiatives to expand installer and technician numbers, the overall market rebound is projected to be modest. Carrier’s guidance for tariffs remains unchanged, and the price objective has been raised based on a slightly higher valuation multiple compared to peers. These factors collectively support a Hold rating, reflecting a balanced view of potential growth and existing market challenges.

In another report released yesterday, Deutsche Bank also maintained a Hold rating on the stock with a $81.00 price target.