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Jefferies Raises Target On Ingersoll-Rand (IR) After Q4 "Beat"

February 9, 2012 7:37 AM EST
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Price: $94.95 -0.33%

Rating Summary:
    20 Buy, 13 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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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.


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