Jefferies Raises Target On Ingersoll-Rand (IR) After Q4 "Beat"
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Price: $79.33 -2.23%
Rating Summary:
18 Buy, 16 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
18 Buy, 16 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Jefferies boosted estimates and its price target on Ingersoll-Rand (NYSE: IR) from $38 to $44 following better-than-expected Q4 results.
The firm comments, "IR reported better-than-expected earnings of $0.76, the result of a $0.13 benefit from a lower tax rate. While revenues were a bit light, improved productivity and favorable price/cost kept operating results in line. The mid-point of 2012 guidance was a bit below consensus but included some new restructuring costs. More important, IR's sales and margin targets look quite conservative, setting a low bar to start the year."
FY12 EPS remains at $3.15 while FY13 goes up from $3.60 to $3.70.
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.
The firm comments, "IR reported better-than-expected earnings of $0.76, the result of a $0.13 benefit from a lower tax rate. While revenues were a bit light, improved productivity and favorable price/cost kept operating results in line. The mid-point of 2012 guidance was a bit below consensus but included some new restructuring costs. More important, IR's sales and margin targets look quite conservative, setting a low bar to start the year."
FY12 EPS remains at $3.15 while FY13 goes up from $3.60 to $3.70.
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.
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