Goldman Sachs Cuts Carrier Global (CARR) Price Target to $61
Goldman Sachs has lowered its rating on Carrier Global Corporation to Neutral, cutting the price target to $61.0, a 10.78% upside from the current price.
Reviewed by automated data checks against the source data. How we make and check alerts
Goldman Sachs cut its price target on Carrier Global Corporation ($CARR) to $61 from $74 on October 14, 2026, and rates the stock "Neutral".
Since the rating, $CARR is up 1.4% to date (from the $54.24 close on Oct 14, 2026).
CARR
Carrier Global Corporation
Key Points
- On October 14, 2026, Goldman Sachs downgraded Carrier Global Corporation's rating to Neutral and set a new price target of $61.0, down from $74.0.
- Goldman Sachs's $61 price target implies 10.78% upside from Carrier Global Corporation's ($CARR) current $55.06 share price.
- Shares of Carrier recently traded around $55.06, which is below both the 50-day and 200-day moving averages by 5.2% and 10.8%, respectively.
- The average price target among analysts is $73.44, suggesting that Carrier's stock is currently undervalued by about 25%.
Get $CARR trade alerts by text
We text you when insiders, Congress or big funds trade $CARR. Free.
Not investment advice. EarningsIQ is not a registered investment adviser, and this automated Carrier Global Corporation alert may contain errors. Disclosures
Goldman Sachs has downgraded Carrier Global Corporation (NYSE: CARR) to a Neutral rating on October 14, 2026, reducing its price target to $61.0 from $74.0. This change reflects a shift in the firm's outlook on the company, given the recent performance of its stock.
Goldman Sachs vs. the S&P 500
Hypothetical returns from Goldman Sachs's disclosed trades, not real profit or advice. How we model this.
Goldman Sachs' Call on Carrier Global Corporation
Goldman Sachs lowered its rating on Carrier Global Corporation to Neutral and set a new price target of $61.0, down from the previous target of $74.0. The downgrade comes as the firm's analysts reassess their expectations for the company's performance in the current market environment.
Other Institutional Activity in Carrier Global Corporation
In the latest reports, Capital Research Global Investors trimmed its stake by 10,323,709 shares, ending with 106,065,347 shares valued at approximately $5.83 billion. Blackrock Inc. increased its holdings by 9,295,620 shares, bringing its total to 67,176,195 shares worth about $3.69 billion. Meanwhile, Vanguard Capital Management LLC slightly reduced its position by 61,615 shares, with a total of 51,284,274 shares valued at around $2.82 billion.
Carrier Global Corporation Stock Up 1.5%
Currently, Carrier's shares are trading at $55.06, which is below its 50-day moving average of $58.08 and its 200-day moving average of $61.71. The stock is also 28.3% below its 52-week high of $76.76. This positioning might suggest challenges ahead for the company as it navigates market dynamics.
$CARR price target
Carrier Global Corporation daily closes and this analyst's $61 target. Not advice.
Recent Earnings
Carrier Global reported trailing twelve-month revenue of $22.11 billion and an EPS of $1.38. The company's net margin stands at 5.5%, with a return on equity of 9.0%. The next earnings report is scheduled for October 29, 2026, which could provide further insights into its current financial health.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
-
Forward outlook
5 analysts raised price targets.
-
EPS & revenue
EPS beat estimates by 9.8%. Revenue beat estimates by 4.6%.
-
Profit surprise
EBITDA missed by 25 percent. Operating income missed by 48 percent.
-
Pre-earnings setup
Expectations were about average.
-
Analyst signal
5 target raises.
-
Earnings quality
Gross margin down 4.4 points. Operating margin down 6.3 points. Positive free cash flow.
Earnings Call Summary
Carrier delivered a strong first quarter with 5.3 billion in sales and 0.57 earnings per share, beating expectations. Orders surged 11 percent overall with commercial up 35 percent and data center orders up more than 500 percent. The team expects data center sales this year to hit 1.5 billion dollars, with their backlog already covering that target. Residential improved better than expected with dealer inventory down 35 percent and healthy field levels, though macro uncertainty with high mortgage rates and fuel prices remains a concern. They are pushing pricing to offset tariff and input cost pressures and remain confident in delivering their sixth consecutive year of double-digit aftermarket growth.
Guidance Carrier reaffirmed its full year sales target of about 22 billion dollars with flat to low single-digit growth. They expect to offset new tariff and input cost pressures through supply chain actions, cost cuts, and about 2 percent more pricing through the year. Data center sales are on track for 1.5 billion dollars.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Insider Buying and Selling at Carrier Global Corporation
Recent insider transactions include Chief Executive Officer David L. Gitlin, who bought 19,300 shares at an average price of $52.62 on November 25, 2025, totaling about $1.02 million. Other notable sales include Director Maximilian Viessmann, who sold 12,094,823 shares at $62.01 on May 20, 2026, valued at approximately $750 million.
Analysts Set New Price Targets
On October 14, 2026, Goldman Sachs downgraded its rating on Carrier to Neutral and lowered its price target to $61.0 from $74.0. RBC Capital also maintained its Outperform rating with a target of $72.0 on the same day. The average analyst price target for Carrier is currently $73.44, with 23 analysts providing opinions.
About Carrier Global Corporation
Carrier Global Corporation offers climate and energy solutions across various regions, including the U.S., Europe, and Asia. The company operates through multiple segments focused on climate solutions for different markets. This downgrade by Goldman Sachs may impact its market perception as it moves forward in a competitive landscape.
Bottom Line
Investors should keep an eye on Carrier's upcoming earnings report on October 29, 2026, to gauge its performance following this downgrade. The recent changes in analyst ratings and price targets reflect the evolving outlook for the company in the current economic climate.
Related Filing Alerts
Source: Goldman Sachs's rating change on $CARR (Oct 14, 2026). Written by software, not financial advice. How we make alerts