Trane price target raised to $295 from $281 at Wells Fargo

Wells Fargo analyst Joseph O’Dea raised the firm’s price target on Trane to $295 from $281 and keeps an Underweight rating on the shares following quarterly results. The firm says it expected high relative valuation, that in part reflected positive earnings revision risk, anticipating as earnings went up the multiple would come down. Earnings have come up and so has the multiple, Wells adds.