Jefferies Believes Carrier Global (NYSE: CARR) Still Has Room to Grow

Jefferies analyst Stephen Volkmann maintained a Buy rating on Carrier Global (CARRResearch Report) on April 29 and set a price target of $53.00. The company’s shares closed last Tuesday at $43.21, close to its 52-week high of $45.32.

According to TipRanks.com, Volkmann is a 5-star analyst with an average return of 26.8% and a 74.5% success rate. Volkmann covers the Industrial Goods sector, focusing on stocks such as Lennox International, Illinois Tool Works, and Parker Hannifin.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Carrier Global with a $51.22 average price target, representing a 18.7% upside. In a report issued on April 19, Merrill Lynch also initiated coverage with a Buy rating on the stock with a $57.00 price target.

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Carrier Global’s market cap is currently $37.78B and has a P/E ratio of 17.00. The company has a Price to Book ratio of -8.25.

Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CARR in relation to earlier this year.

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Florida-based Carrier Global Corporation provides HVAC (heating, ventilation, and air conditioning), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security.