Baird analyst Michael Halloran raised the firm’s price target on Ingersoll-Rand to $109 from $107 and keeps an Outperform rating on the shares. The firm thinks positive business-to-business, accelerating sequential order growth through April, increasing project activity, and backlog all suggest a healthy demand trajectory. Further, balance sheet deployment remains another catalyst.
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Read More on IR:
- Ingersoll-Rand raises FY24 adjusted EPS view to $3.20-$3.30 from $3.14-$3.24
- Ingersoll-Rand reports Q1 adjusted EPS 78c, consensus 69c
- Ingersoll-Rand increases buyback authorization to $1.0B
- Ingersoll-Rand price target raised to $112 from $105 at Citi
- Ingersoll-Rand closed on the acquisitions of Controlled Fluidics, Ethafilter
