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Jefferies & Company Reiterates Buy Rating, $55 PT on Ingersoll-Rand PLC

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In a report published Monday, Jefferies & Company reiterated its Buy rating and $55.00 price target on Ingersoll-Rand PLC (NYSE: IR).

Jefferies noted, “IR announced the results of its strategic review this morning, noting it will spin off its security business, repurchase stock, and increase its dividend. We view the news as positive and continue our Buy rating. First blush, we see value from these transactions in the low to mid $50s for now, with additional upside from residential and commercial construction cycles. IR will host a 10:30AM conference call.”

Ingersoll-Rand PLC closed on Friday at $48.69.

Latest Ratings for IR

DateFirmActionFromTo
Sep 2014Stifel NicolausInitiates Coverage onHold
Sep 2014Buckingham ResearchInitiates Coverage onNeutral
Aug 2014BairdDowngradesOutperformNeutral

View More Analyst Ratings for IR
View the Latest Analyst Ratings

Posted-In: Jefferies & CompanyAnalyst Color Reiteration Analyst Ratings

 

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