BUZZ-Trane Technologies rises as Keybanc upgrades rating to 'overweight'

Reuters12-15 23:07
BUZZ-Trane Technologies rises as Keybanc upgrades rating to 'overweight'

** Keybanc upgrades Trane Technologies 2IS.F rating to "overweight" from "sector weight", maintains a price target of $500

** Shares of Trane Technologies rise nearly 1% to about $395

** Brokerage says Trane Technologies’s direct salesforce, with an average tenure of ~10 years, offers deep equipment and service expertise, a key differentiator that drives wins with large and complex data center clients

** Adds, Trane Technologies’s orders and backlog are expected to stay strong, driven by steady data center demand

** Ireland-based global climate innovator's backlog currently sits at $7.2 billion, up $450 million from Q4 2024

** Nine of 25 brokerages rate the stock "buy" or higher, 15 "hold" and one "sell"; their median PT is $469, according to data compiled by LSEG

** Including session's moves, shares up 6.7% YTD

(Reporting by Megavarshini G. Somasundaram in Bengaluru)

((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))

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