Comfort Systems Shares Respond to D.A. Davidson Upgrade

Shares of Comfort Systems USA

are trading higher by 3.7 percent to $15.44 after the D.A. Davidson upgraded the stock from Neutral to Buy. Analyst John Rogers is looking for “end-market demand to improve over the next several years” as commercial and industrial facilities recover after an “extended downturn.” Rogers expects “further improvements in operating efficiency and revenue benefits from improved market conditions to lift margins 200bp (back to/above previous peak levels) over the next several years.” The analyst has a near-term price target of $17, which is 10.1 percent above current levels.