Stock price when the opinion was issued
Their core heating and AC business has been more durable than many expected. Is up 25% this year so far, chasing more business from data centres and run by an excellent CEO. Their reported an okay quarter at the end of July with a mixed forecast, dragged down by an acquisition. but shares rallied on news of 30% organic orders growth, with 40-45% HVAC order growth from both residences and businesses. Data centres run hot and need cooling. Selling at 25x PE now, so not cheap. Will benefit from lower interest rates.
Leader in heating and ventilation business.
Global warming will be good for business.
Cyclical business.
Would buy if markets start to recover.
Recent M&A good for business.