UBS Raises PT on Ingersoll-Rand (IR)
Get Alerts IR Hot Sheet
Price: $92.03 --0%
Rating Summary:
20 Buy, 13 Hold, 1 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 7 | Down: 12 | New: 1
Rating Summary:
20 Buy, 13 Hold, 1 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 7 | Down: 12 | New: 1
Join SI Premium – FREE
UBS today maintained a Buy rating on Ingersoll-Rand (NYSE: IR) and boosted its price target to $71.00 (from $61.00). Comments follow the company's Q2 results.
Analyst Jason Feldman said, "2Q showed solid execution, with encouraging signs in some end markets (albeit, with incremental weakness at Industrial / Security). We still see FY14 cons. ests. as materially too low, and UBSe of $4.50 (reflects combined earnings power of IR and Allegion) is well above cons. $4.20. In addition to ~$1.5B of repurchases over the next 9 months, we believe we are in the early stages of a multi-year non-res. construction recovery, IR has years of substantial margin upside remaining, and the spinoff should result in M&A interest for Allegion (Security)."
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 $62.95 yesterday.
Analyst Jason Feldman said, "2Q showed solid execution, with encouraging signs in some end markets (albeit, with incremental weakness at Industrial / Security). We still see FY14 cons. ests. as materially too low, and UBSe of $4.50 (reflects combined earnings power of IR and Allegion) is well above cons. $4.20. In addition to ~$1.5B of repurchases over the next 9 months, we believe we are in the early stages of a multi-year non-res. construction recovery, IR has years of substantial margin upside remaining, and the spinoff should result in M&A interest for Allegion (Security)."
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 $62.95 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Alphabet stock surges 11% to record high on Q1 earnings beat, first-ever dividend
- Canaccord Genuity Downgrades Antofagasta Plc. (ANTO:LN) (ANFGF) to Hold
- STMicroelectronics NV (STM:FP) (STM) PT Lowered to EUR37 at Barclays
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, Analyst PT ChangeRelated Entities
UBS, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!