Barclays lowered the firm’s price target on Ingersoll-Rand (IR) to $102 from $115 and keeps an Overweight rating on the shares. Ingersoll-Rand now trades at a similar multiple to peers, which is unusual versus history, the analyst tells investors in a research note. The firm believes a recovery in the company’s non-U.S. markets and acquisitions are needed for a reversal.
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