Nomura Securities Maintains a 'Neutral' on Ingersoll-Rand (IR); Takeaways From EPG Conference

Nomura Securities maintains a 'Neutral' on Ingersoll-Rand (NYSE: IR) price target of $42.00.

Analyst, Shannon O'Callaghan, said, "Our take-away from IR’s presentation at the EPG conference is that ideas around potential strategic options for segments of IR appear to contrast sharply with the initiatives being run at the company, which appear to be making IR more integrated, not less. The company is increasingly shifting its manufacturing footprint towards use of shared facilities across the businesses; it sees common technology leverage across businesses and is planning to spend $250m over five years to move the whole company to a common ERP system."

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 $42.62 yesterday.

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