Trane price target raised to $333 from $312 at RBC Capital

RBC Capital raised the firm’s price target on Trane to $333 from $312 and keeps a Sector Perform rating on the shares. The company’s Q1 earnings beat was driven by 13.5% organic revenue growth, broad-based strong bookings across the portfolio, and seasonally strong free cash flows, the analyst tells investors in a research note. Trane’s positioning in the mid-teens datacenter growth is also encouraging, the firm added.