Mizuho Cuts Carrier Global (CARR) Price Target to $70

Mizuho maintains its bullish outlook on Carrier Global, adjusting its price target to $70.00, a 27.32% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 11:15 AM EDT · Updated Oct 16, 2026, 8:15 PM EDT

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Mizuho cut its price target on Carrier Global Corporation ($CARR) to $70 from $75 on October 15, 2026, and rates the stock "Outperform".

Since the rating, $CARR is up 0.1% to date (from the $54.96 close on Oct 15, 2026).

CARR Carrier Global Corporation

$55 +3.95% year to date

Daily close · Oct 16, 2026

Key Points

On October 15, 2026, Mizuho reiterated its Outperform rating on Carrier Global Corporation, setting a new price target of $70.00, down from $75.00.
Mizuho's $70 price target implies 27.32% upside from Carrier Global Corporation's ($CARR) current $54.98 share price.
Shares of Carrier recently traded around $55.13, which is below the 50-day moving average of $58.08 and significantly below the 52-week high of $76.76.
Carrier Global has a market cap of approximately $45.3 billion and a forward P/E ratio of 16.6, reflecting its growth potential.

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Mizuho reiterated its Outperform rating on Carrier Global Corporation (NYSE: CARR) on October 15, 2026, adjusting its price target to $70.00 from $75.00. The firm continues to express confidence in the company's future performance despite the target reduction.

Analyst rating track record

Mizuho vs. the S&P 500

YTD return -10.30% hypothetical

All-time return -10.30% S&P 500 +3.34%

vs. S&P 500 -13.64% behind the index

Hypothetical returns from Mizuho's disclosed trades, not real profit or advice. How we model this.

Other Institutional Activity in Carrier Global

Capital Research Global Investors reduced its stake by 10,323,709 shares, ending with 106,065,347 shares valued at about $5.83 billion. Blackrock Inc. increased its holdings by 9,295,620 shares, bringing its total to 67,176,195 shares worth approximately $3.69 billion. Vanguard Capital Management LLC trimmed its position slightly, selling 61,615 shares, and now holds 51,284,274 shares valued at about $2.82 billion. Meanwhile, JPMorgan Chase & Co. decreased its stake by 468,410 shares, ending with 34,487,524 shares worth around $1.90 billion.

Carrier Global Corporation Stock Up 1.4%

Carrier Global shares recently traded at $55.13, which is below its 50-day moving average of $58.08 and its 200-day average of $61.71. The stock is also 28.2% below its 52-week high of $76.76, but it remains above its 52-week low of $50.24 by 9.7%. This underperformance relative to averages and the high suggests potential challenges for the stock in the near term.

12-month forecast

$CARR price target

Carrier Global Corporation daily closes and this analyst's $70 target. Not advice.

Recent Earnings

Carrier Global reported trailing twelve-month revenue of approximately $22.1 billion, with a net margin of 5.5% and an earnings per share (EPS) of $1.38. The company is expected to announce its next earnings on October 29, 2026.

Earnings drift grade

Outlook vs expectations on the last report — not price action.

B- 69/100

Reported Apr 30, 2026

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

Insider transactions show some activity, with Kyle Crockett, an officer, selling 18,945 shares on February 14, 2025, at an average price of $65.18, totaling about $1.23 million. Director Maximilian Viessmann sold 4,267,425 shares on June 5, 2025, valued at approximately $300 million. On the other hand, CEO David L. Gitlin bought 19,300 shares on November 25, 2025, for about $1.02 million at an average price of $52.62.

Analysts Set New Price Targets

On October 15, 2026, Mizuho maintained its Outperform rating on Carrier Global, setting a target of $70.00. Earlier, on October 14, Goldman Sachs downgraded its rating to Neutral with a target of $61.00, while RBC Capital maintained its Outperform rating with a target of $72.00. The consensus target price for the stock is $73.44 based on 23 analyst opinions, suggesting a recommendation of Buy.

About Carrier Global Corporation

Carrier Global Corporation specializes in climate and energy solutions, operating across various regions including the U.S., Europe, and Asia. The company focuses on providing innovative products and services in the building products and equipment sector, which is crucial for addressing energy efficiency and climate control needs.

Bottom Line

Investors should watch for Carrier Global's next earnings release on October 29, 2026, for further insights into its financial health. Mizuho's adjusted target and ongoing analyst coverage indicate that market sentiment remains cautiously optimistic despite recent challenges.