Market Overview

UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on Ingersoll-Rand PLC

Share:
Related IR
Earnings Scheduled For July 28, 2015
Ingersoll-Rand 8-K Filing Released

In a report published Friday, Jefferies & Company reiterated its Buy rating on Ingersoll-Rand PLC (NYSE: IR), and raised its price target from $55.00 to $57.00.

Jefferies noted, “We see more downside than upside risk in 4Q machinery earnings, and we continue to recommend a defensive short-term stance. Extended production shutdowns and inventory destocking has been prevalent through the quarter and into 2013. We are generally below consensus in the near term and worry that stocks appear overbought +10+% vs the S&P500 since the October lows despite no material improvement in fundamentals.”

Ingersoll-Rand PLC closed on Thursday at $49.62.

Latest Ratings for IR

DateFirmActionFromTo
Jul 2015Stifel NicolausMaintainsBuy
Jul 2015BarclaysMaintainsEqual-weight
Jul 2015Stifel NicolausUpgradesHoldBuy

View More Analyst Ratings for IR
View the Latest Analyst Ratings

Posted-In: Jefferies & CompanyAnalyst Color Price Target Analyst Ratings

 

Related Articles (IR)

View Comments and Join the Discussion!

Get Benzinga's Newsletters