Morgan Stanley Sees Key Issues for Ingersoll-Rand PLC Ahead of 4Q13 Earnings Report

In a report published Thursday, Morgan Stanley analyst Nigel Coe reiterated an Equal-Weight rating and $63.00 price target on Ingersoll-Rand PLC IR. In the report, Morgan Stanley noted, “We see a relatively inline, albeit noisy 4Q print and initial '14 guidance range of $3 to $3.25 bracketing expectations. Pro-forma model tweaks lead us to lower our 2014e to $3.10 and our 1Q14e to 31c. Recent pullback makes risk/reward more appealing vs. our $63 target price.” Ingersoll-Rand PLC closed on Wednesday at $57.69.