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Ingersoll-Rand stock likely underperforms Friday, says Baird
The Fly

Ingersoll-Rand stock likely underperforms Friday, says Baird

Baird reiterated an Outperform rating and $114 price target on Ingersoll-Rand (IR) after the company posted Q3 operational upside on both revenue and “strong” margins. The firm noted that the stock will likely underperform on Friday as investors focus on the softer organic growth assumptions and a temporarily stalled estimate progression. Consistent with recent messaging, the stock likely takes a pause in the short term until more end market clarity emerges, but the firm remains confident in the company’s ability to compound free cash flow and earnings organically/inorganically and there has not been a change in its positive long-term thesis.

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