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.