Market Overview

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

Share:

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
Nov 2020Morgan StanleyMaintainsOverweight
Nov 2020Deutsche BankMaintainsHold
Nov 2020Morgan StanleyMaintainsOverweight

View More Analyst Ratings for IR
View the Latest Analyst Ratings

 

Related Articles (IR)

View Comments and Join the Discussion!

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

Latest Ratings

StockFirmActionPT
PLTHCanaccord GenuityMaintains6.0
VLDRCraig-HallumInitiates Coverage On23.0
MFACNorthland Capital MarketsInitiates Coverage On15.0
CEREJefferiesInitiates Coverage On18.0
GIIIUBSInitiates Coverage On22.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com