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UBS Maintains a 'Buy' on Ingersoll-Rand (IR); Looking Forward to Key Summer Selling Season

April 24, 2012 10:55 AM EDT
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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: 0 | Down: 0 | New: 0
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UBS maintains a 'Buy' on Ingersoll-Rand (NYSE: IR) price target raised from $42 to $45.

Analyst, Jason Feldman, said, "Results were generally better than expected outside of Residential. Sales of $3.15B were above consensus $3.04B with U.S. sales (ex-Hussmann) up 4% and International +1% (+4% ex-FX). Adj. operating margin of 6.7% declined 90bp YoY on a 3% (ex-Hussmann) increase in sales (+4% organic). Bookings were solid at +7% despite tough comps of +9% in 1Q11, with Residential and Climate +10% and +7%, respectively. Despite trends that improved over the course of the quarter, management remains cautious given underlying end market volatility."

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 $40.24 yesterday.


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