Jefferies analyst Stephen Volkmann lowered the firm’s price target on Carrier Global (CARR) to $90 from $100 and keeps a Buy rating on the shares citing its lowered 2025 U.S. residential HVAC outlook. Management sees aggressive channel restocking through Q4, expecting field inventory at multi-year lows by year end, the firm told investors in a research note. Jefferies added that commercial HVAC and aftermarket growth remain strong, supporting long-term upside into 2026 and beyond.
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