Goldman Sachs raised the firm’s price target on Ingersoll-Rand to $79 from $76 and keeps a Buy rating on the shares. The company had a “solid” Q2 earnings beat while its FY23 guidance appears “conservative”, the analyst tells investors in a research note. The firm also continues to be encouraged by the strength in Ingersoll-Rand orders, up 5% organically, and backlog, up 12% from last year.
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Read More on IR:
- Ingersoll-Rand raises FY23 adjusted EPS view to $2.70-$2.80, consensus $2.72
- Ingersoll-Rand reports Q2 adjusted EPS 68c, consensus 60c
- IR Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Ingersoll-Rand price target raised to $71 from $61 at Stifel
- Ingersoll-Rand names Matt Emmerich CIO
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