Trane price target raised to $344 from $315 at Baird

Baird raised the firm’s price target on Trane to $344 from $315 and keeps a Neutral rating on the shares. The firm said they posted solid Q1 results and investors were likely positioned for upside, though strong CHVAC bookings/backlog/revenue growth, resi outperformance, and guidance raise helped clear a higher bar.