KeyBanc Raises PT on Trane Technologies (TT), Maintains an Overweight Rating

​Trane Technologies plc (NYSE:TT) is one of the Best Liquid Cooling Stocks to Buy for AI Data Centers. On May 1, KeyBanc raised its price target on the stock from $525 to $555, while keeping an Overweight rating on the shares.

​The rating comes after the company released its fiscal Q1 2026 earnings on April 30. During the quarter, Trane Technologies plc (NYSE:TT) posted $4.97 billion in revenue, up 5.99% year-over-year, and exceeded expectations by $154.57 million. The GAAP EPS of $2.62 also topped expectations by $0.09.

​Management noted reaching a record enterprise organic backlog of $10.7 billion, reflecting 24% increase year-over-year. Moreover, the American commercial HVAC bookings also grew by roughly 40%, driven by 160% increase in applied solutions bookings. Looking ahead, management projects around 10% revenue growth in Q2, and the 2026 organic revenue growth guidance has also been raised to around 7%.

​Trane Technologies plc (NYSE:TT) designs and delivers heating, cooling, ventilation, and refrigeration systems for buildings, homes, and transportation. The company also provides liquid cooling technology for data centers, including Coolant Distribution Units and integrated liquid‑cooling platforms that support high‑density and AI‑driven workloads.

While we acknowledge the risk and potential of TT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than TT and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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