Butlr announced its $38M Series B round funding on Aug 26th 2024

Trane and Carrier, two of the world's largest HVAC companies, are experiencing surging orders from data centres as AI infrastructure demands increase. As AI clusters generate more heat with newer chip generations, hyperscalers have turned to established HVAC leaders to meet their cooling needs. Trane's data centre business accounts for approximately 10% of its total revenue. Its backlog grew 70% year over year to $12.1 billion in Q2 2026, equivalent to 57% of its 2025 revenue. From 2021 to 2025, Trane's revenue and earnings per share grew at compound annual growth rates of 11% and 21%, respectively. Carrier's data centre sales represent about 5% of its 2025 revenue. The company expects this segment to grow 50% in 2026, reaching 7% to 9% of revenue. Its backlog increased 40% year over year to $8 billion in Q2 2026.

Wall Street analysts have set ambitious price targets for three stocks, but StockStory's independent analysis suggests caution on two of them. Carrier Global trades at $62.64 per share, with analysts targeting $77.82. However, the company has shown no organic revenue growth over the past two years, whilst earnings per share have contracted by 8.4% annually. Diminishing returns on capital further suggest earlier profit pools are drying up. Elanco Animal Health, trading at $23.57 against a $31.21 target, has posted muted 2% annual revenue growth over five years. Its adjusted operating margin fell by 3.5 percentage points, and negative returns on capital indicate management lost money during expansion attempts. In contrast, Ulta Beauty appears to justify Wall Street's optimism. Same-store sales have averaged 3.5% growth over two years, whilst the company's 32.6% return on capital demonstrates strong management execution.