Market Overview

UPDATE: Credit Suisse Reiterates Outperform Rating, Raises PT on Ingersoll-RandPLC

Related IR
Will The Rest Of The World Drag Down The U.S. Economy?
Fast Money Halftime Report Final Trade From October 23
Could This 143-Year-Old Innovator Make You Money? (Fox Business)

In a report published Friday, Credit Suisse Group reiterated its Outperform rating on Ingersoll-Rand PLC (NYSE: IR), and raised its price target from $47.00 to $51.00.

Credit Suisse noted, “Ingersoll-Rand in the coming days is likely to issue the results of its strategic review, which has been taking place since midyear. We think that the stock is worth owning into this event, as expectations are not particularly high-Lennox has seen its share price rise by ~6% more than IR over the past 12 months, suggesting that end-market attributes, rather than self-help, have been the dominant driver of performance. IR's share price is flat with 2 years ago, and its valuation is inexpensive (2013 P/E of 12-13x). We continue to think that IR is capable of generating medium-term EPS of $5, implying fair value of $60-plus. We increased our TP to $51 (from $47).”

Ingersoll-Rand PLC closed on Thursday at $48.20.

Latest Ratings for IR

DateFirmActionFromTo
Nov 2014RBC CapitalInitiates Coverage onSector Perform
Oct 2014JP MorganMaintainsOverweight
Oct 2014BarclaysMaintainsEqual-weight

View More Analyst Ratings for IR
View the Latest Analyst Ratings

Posted-In: Credit Suisse GroupAnalyst Color Price Target Analyst Ratings

 

Related Articles (IR)

Around the Web, We're Loving...

Get Benzinga's Newsletters