Trane price target raised to $320 from $310 at Stephens

Stephens analyst Tommy Moll raised the firm’s price target on Trane to $320 from $310 and keeps an Equal Weight rating on the shares after the company reported revenue and adjusted EPS ahead of the firm’s forecasts and consensus. Following the report and call, the firm raised FY24 adjusted EPS estimates, but notes that its implied target multiple is little-changed.