Wells Fargo and JPMorgan Lower Price Targets for Carrier Global

Carrier Global Corporation (NYSE:CARR) faces a decline in investor confidence as both Wells Fargo and JPMorgan have recently reduced their price targets for the company. On November 7, 2025, Wells Fargo adjusted its price target to $62, down from $70, while maintaining a Hold rating. This adjustment follows Carrier’s third-quarter report, which revealed sales of $5.6 billion, a 7% decline year-over-year, including a 4% drop in organic sales.

In its earnings report, Carrier management projected a full-year revenue of approximately $22 billion for 2025. However, the outlook now includes an estimated $750 million revenue headwind associated with the exit from the CCR business, a significant change from previous guidance.

JPMorgan followed suit on October 31, 2025, lowering its price target for Carrier Global to $60 from $61, while keeping a Neutral rating. The firm indicated that the company’s third-quarter results were “fundamentally as bad as advertised,” highlighting a weaker exit rate that could indicate potential downside risks for earnings estimates in 2026.

Challenges Ahead for Carrier Global

Carrier Global Corporation specializes in intelligent climate and energy solutions, primarily through its Heating, Ventilation, and Air Conditioning (HVAC) and Refrigeration divisions. Despite the challenges highlighted by analysts, some investors still see potential in the company. Nonetheless, there is a growing sentiment that other sectors, particularly artificial intelligence, may offer more promising investment opportunities with less risk and higher upside potential.

As the market continues to evolve, investors are advised to stay informed about Carrier’s performance and the broader industry landscape. The adjustments by Wells Fargo and JPMorgan signal a cautious approach to future earnings, as the company navigates significant revenue challenges in its operations.

While Carrier Global remains a notable player within its field, analysts are increasingly focused on alternative investments that may provide more substantial returns in the current economic climate.