Goldman Sachs just handed Comfort Systems USA one of the more eye-catching price targets in the industrial sector, initiating coverage on the mechanical and electrical contractor with a Buy rating and a $2,159 price target. The thesis is straightforward: the people building AI data centers need someone to handle the heating, cooling, and electrical systems inside them, and Comfort Systems USA is very good at that.
The numbers tell the story
The company reported first quarter 2026 revenue of $2.87 billion, a 56% jump compared to the same period a year earlier. The backlog sits at $12.45 billion, representing real, signed contracts the company has not yet been paid to complete.
Technology sector work now accounts for 45% of Comfort Systems’ total revenue, up from 33% the year before.
Goldman is not alone in its enthusiasm. UBS raised its price target to $2,125 with a Buy rating, citing conversations with company management. Oppenheimer went further, initiating coverage with an Outperform rating and a $2,200 target.
