5 Best HVAC Stocks to Buy for AI Server Heat Mitigation

3. Carrier Global Corporation (NYSE:CARR)

Short Percentage of Shares Outstanding: 2.04%

On June 9, Bernstein initiated coverage of Carrier Global Corporation (NYSE:CARR) with a Market Perform rating and a $75 price target. The firm stated that the shares appear fairly valued at current levels, noting that growing demand from data centers is expected to offset weakness in the residential market in the near term. However, Bernstein also highlighted that the industry’s gradual transition toward liquid cooling technologies could affect Carrier’s long-term revenue outlook, as lower chiller intensity may reduce demand for certain traditional cooling solutions.

On May 28, Morgan Stanley raised its price target on Carrier Global Corporation (NYSE:CARR) to $60 from $55 while maintaining an Equal Weight rating on the shares. The revision followed the company’s recent earnings report and reflected updated expectations for its operating performance and financial outlook.

Founded in 1915 and headquartered in Palm Beach Gardens, Florida, Carrier Global Corporation (NYSE:CARR) manufactures and distributes intelligent HVAC, refrigeration, and energy solutions. The company is heavily involved in AI server heat mitigation by leveraging advanced Coolant Distribution Units (CDU) and backing direct-to-chip liquid cooling innovators like ZutaCore to manage the intense thermal loads of high-density AI data centers.