This old technology getting some fresh attention is a trend investors may not want to miss: Heat pumps. The devices are seen as a critical tool to achieve global net-zero targets, particularly as temperatures continue to rise. Making the switch will also benefit consumers' wallets and punch up the value of several energy-intensive areas in the market, ranging from real estate to industrials.
"Strong 1Q24 beat and raised '24 guidance, we think indicate that TT continues to capitalize on relatively healthy end-market trends and is delivering solid operational performance across margin and generation, which, in our view, should support solid multi-year earnings growth and drive consistent shareholder value," said Citi Research's Andrew Kaplowitz. He kept his buy rating and increased his price target by $11 to $366, suggesting shares could gain 10.