Ingersoll-Rand (IR) PT, Estimates Raised at Jefferies
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Rating Summary:
20 Buy, 13 Hold, 1 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 6
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Jefferies analyst Stephen Volkmann raised estimates and his price target on Buy-rated Ingersoll-Rand (NYSE: IR) to $75.00 (from $70.00).
commented, "Following a solid beat and raise quarter we are increasing our earnings estimates and raising our price target. We continue to view IR as a top-pick in our coverage as end market strength (commercial/residential construction) and restructuring actions drive margin and earnings growth."
The firm raised Q2 EPS from $1.25 to $1.30, FY 2016 EPS from $3.95 to $4.10 and FY 2017 EPS from $4.40 to $4.55.
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 $65.39 yesterday.
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