Trane upgraded to Buy from Neutral at UBS

UBS analyst Chris Snyder upgraded Trane Technologies to Buy from Neutral with a price target of $200, up from $168. The company is well positioned to "bridge the gap" to a more accommodative Federal Reserve policy and macro backdrop via sustained order momentum and its resulting backlog "buffer," Snyder tells investors in a research note. The analyst sees orders as the key industrial metric and thinks companies levered into energy efficiency are best positioned to sustain order momentum amidst broad economic softening.