Ingersoll-Rand price target raised to $120 from $105 at Barclays

Barclays raised the firm’s price target on Ingersoll-Rand (IR) to $120 from $105 and keeps an Outperform rating on the shares. Amid a “slightly brighter demand outlook” for short cycle industrial goods, the firm adjusted ratings in the U.S. multi-industry group as part of a 2025 outlook. Short cycle industrial goods are likely to be the key area of acceleration in 2025, the analyst tells investors in a research note. The firm says valuations are now at or approaching all-time highs for most stocks, “despite / because of all-time high earnings.”