Mizuho Reiterates Neutral Rating on Carrier Global (CARR)

Mizuho analyst Brett Linzey reiterated a Neutral rating and $78.00 price target on Carrier Global (NYSE: CARR).

The analyst commented: "Stock faded against high expectations of pre-buy catalyst, which didn't materially develop with some late quarter softness on orders. Viessmann expectations were reduced again as that business has struggled to find footing on lower European heat pump uptake. Data centers orders tripled in thermal. Commercial HVAC was strong, while International markets were softer vs. North America. CARR is expecting the ~10% price spread on 454b vs 410a, increasing to ~15-20% over 2 years, which provides some idiosyncratic levers into next year. Fine-tuning model for portfolio effects. '24 adj. EPS goes to $2.50. Our updated '25e$3.00 / '26e at $3.55. We are maintaining our Neutral and keeping our PT at $78."

For an analyst ratings summary and ratings history on Carrier Global click here. For more ratings news on Carrier Global click here.

Shares of Carrier Global closed at $73.72 yesterday.

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