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Trane price target raised to $490 from $455 at Argus

Argus raised the firm’s price target on Trane (TT) to $490 from $455 and keeps a Buy rating on the shares. The company’s Q2 results exceeded analyst expectations, and management raised guidance, the analyst tells investors in a research note. The shares deserve premium valuations given the company’s cash generation capabilities and its record of market outperformance, the firm argues.

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