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UPDATE: Credit Suisse Reiterates on Ingersoll-Rand PLC Following Analyst/Investor Meeting

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In a report published Wednesday, Credit Suisse analyst Julian Mitchell reiterated an Outperform rating on Ingersoll-Rand PLC (NYSE: IR), and raised the price target from $73.00 to $77.00.

In the report, Credit Suisse noted, “We attended IR's Analyst/Investor meeting which focused on the 2014-2016 outlook for the New IR (ex Allegion). Our consolidated EPS estimates for IR (Allegion + New IR) fall slightly after the event to reflect anticipated tax dis-synergies post spin although our TP moves up to $77 (from $73) to reflect multiple expansion to peer levels given a strong relative outlook.”

Ingersoll-Rand PLC closed on Tuesday at $67.77.

Latest Ratings for IR

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

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