Jefferies Maintains a 'Buy' on Ingersoll-Rand (IR); Low Valuation and Significant Cyclical Upside

Jefferies maintains a 'Buy' on Ingersoll-Rand (NYSE: IR) price target of $38.00.

Jefferies analyst says, "IR is the cheapest large-cap industrial with significant cyclical upside when building markets begin to recover. We view residential challenges as manageable and look for continued productivity gains. Management credibility has taken a hit but should set up low expectations and drive upside even in a modest recovery scenario." (Jefferies analyst lowers FY11 EPS estimate from $2.75 to $2.67 and FY12 from $3.65 to $3.15 and FY13 from $4.35 to $3.60)

For more ratings news on Ingersoll-Rand click here and for the rating history of Ingersoll-Rand click here.

Shares of Ingersoll-Rand closed at $27.38 yesterday.

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