RBC Capital analyst Deane Dray raised the firm’s price target on Trane to $204 from $194 and keeps a Sector Perform rating on the shares. The company’s organic growth of 11% was above expectations and driven by a balanced 5points of price and 6points of volume growth, but the stock’s valuation at 21-times expected forward earnings is in line with the group target multiple, the analyst tells investors in a research note.
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