HSBC Downgrades Trane Technologies (TT) to Hold

HSBC analyst Wesley Brooks downgraded Trane Technologies (NYSE: TT) from Buy to Hold with a price target of $405.00 (from $355.00).

The analyst comments: "We continue to see a highly attractive long-term growth opportunity, excellent execution, and upside to consensus expectations longer term. But Trane shares have double over the last year, and valuation has re-rated from c20x NTM PE a year ago to 29x 2025e PE today, partly on strong results and partly due to optimism around AI-driven data center growth – and is now similar to stocks with higher exposure to the theme and faster growth, so we see limited room for further multiple expansion."

For an analyst ratings summary and ratings history on Trane Technologies click here. For more ratings news on Trane Technologies click here.

Shares of Trane Technologies closed at $375.52 yesterday.

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