Analyst Joshua Chan upgraded shares to buy from neutral.
It's time to buy shares of HVAC company Comfort Systems , according to UBS. Analyst Joshua Chan upgraded shares to buy from neutral and increased his price target by $129 to $525, which reflects more than 16% upside from Monday's close. Chan pointed to tailwinds in tech from artificial intelligence demand and in manufacturing from reshoring, with both making up a combined 60% of the company's revenue.
manufacturing capabilities, with Manufacturing construction spend now 19% of construction, nearly doubling from 10% in 2019," he added. On top of this, Chan expects the company to sustain its EBIT margins of about 10% heading into next year as well as in 2026 as a result of a strong demand backdrop and a "constrained" labor environment.
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