It's time to buy shares of HVAC company Comfort Systems , according to UBS.
"We also expect Manufacturing to benefit from reshoring and an increased emphasis on U.S. manufacturing capabilities, with Manufacturing construction spend now 19% of [nonresidential] construction, nearly doubling from 10% in 2019," he added.
"Notably, nonresidential construction spending and manufacturing construction spending have increased 89% and 207%, respectively, since the start of 2015," he said.
Among the six analysts covering it, three have a strong buy or buy rating, while the other three have a hold rating, per LSEG.
FIX YTD mountain FIX, year-to-date Shares rose nearly 1% in the premarket after UBS' upgrade.
Persons:
Joshua Chan, Chan
Organizations:
Comfort Systems, UBS, Manufacturing
Locations:
2024E, 2025E