Carrier Global price target lowered to $76 from $82 at Wells Fargo

Wells Fargo analyst Joseph O’Dea lowered the firm’s price target on Carrier Global (CARR) to $76 from $82 and keeps an Equal Weight rating on the shares. Carrier’s HVAC revenue was light of expectations though the bar had moved higher given apparent North American residential HVAC strength ahead of the quarterly results, and 2024 has now been reset, the analyst tells investors in a research note. The focus is now on the setup for organic growth across key HVAC markets next year, Wells says.