Wells Fargo Upgrades Ingersoll-Rand (IR) to Outperform; Near and Long-Term Catalysts
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Price: $58.04 --0%
Rating Summary:
6 Buy, 14 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 31 | New: 12
Rating Summary:
6 Buy, 14 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 31 | New: 12
Trade IR Now!
Wells Fargo upgraded Ingersoll-Rand (NYSE: IR) from Market Perform to Outperform, price target range raised to $44-46 from $30-32.
Wells analyst says, "We are admittedly not early to this name, but we continue to believe there is a potential double over the next four to five years given near-term catalysts (i.e., a potential for upside to the company’s 2012 guidance) that should enable investors to consider the longer-term potential of sustained earnings growth over the next several years. The stock has realized good appreciation year to date (i.e., up 24.6% versus S&P 500 up 7.3%). Our longer-term expectation for the stock to potential double is based on 13-14x potential $5.50-6.00 in earnings power based on $20-22 billion revenue, 13.5-14% EBIT margins, and recently reduced share count."
For an analyst ratings summary and ratings history on Ingersoll-Rand click here. For more ratings news on Ingersoll-Rand click here.
Shares of Ingersoll-Rand closed at $37.99 yesterday, with a 52 week range of $25.86-$52.33.
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Wells analyst says, "We are admittedly not early to this name, but we continue to believe there is a potential double over the next four to five years given near-term catalysts (i.e., a potential for upside to the company’s 2012 guidance) that should enable investors to consider the longer-term potential of sustained earnings growth over the next several years. The stock has realized good appreciation year to date (i.e., up 24.6% versus S&P 500 up 7.3%). Our longer-term expectation for the stock to potential double is based on 13-14x potential $5.50-6.00 in earnings power based on $20-22 billion revenue, 13.5-14% EBIT margins, and recently reduced share count."
For an analyst ratings summary and ratings history on Ingersoll-Rand click here. For more ratings news on Ingersoll-Rand click here.
Shares of Ingersoll-Rand closed at $37.99 yesterday, with a 52 week range of $25.86-$52.33.
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Standard & Poor's, Earnings, Wells Fargo
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