In a report released on April 30, Brett Linzey from Mizuho Securities maintained a Hold rating on Trane Technologies (TT – Research Report), with a price target of $325.00.
Brett Linzey has given his Hold rating due to a combination of factors including Trane Technologies’ consistent performance and backlog growth, despite the competitive landscape. In the first quarter, Trane showcased notable market share gains and robust profit conversion, with a resilient backlog that remains substantially higher than usual. The company’s commercial heating, ventilation, and air conditioning (CHVAC) sector displayed outstanding performance, with orders exceeding delivery across all regions, signifying enduring business momentum.
Furthermore, Linzey acknowledges Trane’s broad-based organic growth, with significant increases in key regions such as the Americas and Asia Pacific. Their adjusted earnings per share exceeded expectations, and the company’s guidance for the upcoming fiscal year has been raised, reflecting confidence in continued growth. Trane’s strategic investments and active mergers and acquisitions pipeline suggest potential for further value creation. However, the Hold rating is maintained, perhaps reflecting the analyst’s view that the current valuation adequately captures the company’s prospects or potential headwinds in the market.
According to TipRanks, Linzey is a 5-star analyst with an average return of 12.2% and a 71.98% success rate. Linzey covers the Industrials sector, focusing on stocks such as Carrier Global, Eaton, and Pentair.
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Trane Technologies (TT) Company Description:
Ireland-based Trane Technologies plc is a diversified industrial manufacturing company formed by the merger of Ingersoll-Sergeant Drill Company and Rand Drill Company. The company provides climate control solutions for buildings, homes, and transportation.
Read More on TT:
