Trane price target raised to $350 from $344 at RBC Capital

RBC Capital analyst Deane Dray raised the firm’s price target on Trane to $350 from $344 and keeps a Sector Perform rating on the shares. The company reported another upside operating beat with 13% organic revenue, 19% organic orders, and a guidance boost that more than passed through the Q2 beat, the analyst tells investors in a research note. Trane’s raised outlook was driven by better than expected Commercial and Residential HVAC in the Americas, partially offset by a softer Americas Transport assumption, the firm added.