Trane price target raised to $395 from $390 at RBC Capital

RBC Capital raised the firm’s price target on Trane (TT) to $395 from $390 and keeps a Sector Perform rating on the shares as part of a broader research note previewing 2025 for the Multi-Industry sector. Secular drivers like electrification, reshoring, and datacenters remain powerful growth drivers, and Trump 2.0 should be decidedly pro-business and tariffs should be a manageable risk, the analyst tells investors in a research note. For the company, the firm notes that Trane has tailwinds from “healthy buildings” and ESG investing, which is balanced by the potential for more risk-off market moves and elevated interest rate effects on nonresi markets. RBC adds that Trane is now in capable hands with Dave Regnery after the retirement of the highly respected CEO Mike Lamach.