CARR Price Prediction Next Week
Technical Analysis: CARR's stock shows a consolidation pattern near $70 level. The RSI at 51.07 indicates neutral momentum, while the MACD at -0.43 suggests slight bearish pressure. The price is currently trading between its 20-day MA ($68.91) and 200-day MA ($69.04), indicating a neutral trend in the medium term.
News Impact: Recent positive developments include the appointment of Amy Miles to CARR's Board of Directors, which led to a 0.58% increase in stock price. The company is expected to report Q4 earnings on February 4, with analysts projecting EPS of $0.50, down 5.7% year-over-year.
Price Forecast for Next Week: Based on Fibonacci levels:
- Resistance levels: R1: $70.59, R2: $71.92, R3: $74.09
- Support levels: S1: $66.26, S2: $64.93, S3: $62.77
- Pivot: $68.43
Trading Recommendation: The stock is likely to trade between $69.50-$71.00 next week. Current technical setup suggests a slightly bullish bias with following targets:
- Short-term target: $71.92 (Fibonacci R2)
- Stop loss: $68.43 (Fibonacci pivot)
Recommendation: BUY at current level ($70.12) with tight stop loss. The appointment of new board member and upcoming earnings could provide positive catalysts. However, traders should be cautious as the stock is trading near resistance levels and showing mixed technical signals.
Target exit price: $71.92 Stop loss: $68.43
CARR Revenue Forecast
CARR EPS Forecast
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CARR VS S&P500
After separating from United Technologies, Carrier is in full control of its destiny. Organic reinvestment should boost its long-term growth prospects, and cost-cutting initiatives should result in stronger profit margins.
The company has significant franchise value with leading brands across its product portfolio. The flagship Carrier brand has demonstrable pricing power.
In the wake of the coronavirus, air filtration, air-quality assessment, cold-chain solutions, and touchless access control solutions should become larger market opportunities.
CARR Analyst's Forecast
Stephen Tusa
JP Morgan
Hold
Price Target
$83 → $77
Upside
+11.92%
JPMorgan lowered the firm's price target on Carrier Global to $77 from $83 and keeps a Neutral rating on the shares. The firm updated models in the electrical equipment and multi-industry space ahead of the Q4 reports.
Andrew Kaplowitz
Citigroup
Strong Buy
Price Target
$94 → $90
Upside
+33.71%
Julian Mitchell
Barclays
Buy
Price Target
$92 → $90
Upside
+31.5%