Trane price target raised to $246 from $231 at RBC Capital

RBC Capital analyst Deane Dray raised the firm’s price target on Trane (TT) to $246 from $231 and keeps a Sector Perform rating on the shares. The company delivered a “solid” Q4 operating beat and upside to expected 2024 guidance, with the management also not giving any dire commentary about its China business unlike its peer Johnson Controls (JCI), the analyst tells investors in a research note. The main pushback on the stock however is that shares look fully valued, the firm added.