These 10 Firms Soared Last Week, Here’s Why

5. Carrier Global Corporation (NYSE:CARR)

Carrier Global grew its share prices by 19.1 percent week-on-week to end Friday at $71.53 versus the $60.06 finish on April 25 following its robust earnings performance and bullish outlooks from investment firms.

In a statement earlier, Carrier Global Corporation (NYSE:CARR) said that net income attributable to shareholders surged by 53 percent to $412 million from $269 million reported in the same period last year, despite net sales dipping by 3.7 percent to $5.218 billion from $5.420 billion year-on-year.

It also raised its full-year guidance amid an expected strong demand for its heating, ventilating, and air conditioning (HVAC) products and aftermarket repair services. For the full year, the company expects its sales to settle at $23 billion, as compared with the range of $22.5 billion to $23 billion previously.

Meanwhile, analysts from Oppenheimer maintained their Outperform rating on Carrier Global Corporation’s (NYSE:CARR) stock and raised their price target for the latter to $85 from $73 previously.

Mizuho Securities, for its part, also raised the price target for the company to $80 from $72 previously.