Trane price target raised to $408 from $363 at RBC Capital

RBC Capital analyst Deane Dray raised the firm’s price target on Trane (TT) to $408 from $363 and keeps a Sector Perform rating on the shares. The company reported a solid operating beat and reiterated 2025 guidance, the analyst tells investors in a research note. The firm says that despite the uncertain macro environment, Trane achieved record Commercial HVAC bookings for the Americas. However, RBC believes the stock’s premium valuation implies a balanced risk/reward.