Ingersoll-Rand (IR) May Benefit From Recovery in Commercial Construction

Analysts at MKM Partners think Ingersoll-Rand (NYSE: IR) guidance shows progress with the company's long term turnaround story. In their view, the turnaround will be aided by a recovery in commercial construction.

"We believe valuation will continue to expand over time as investors view IR as having best-in-class earnings leverage in a commercial recovery, conservative guidance that could ultimate drive beats and raises through the year and a developing track record of delivering on margin expansion goals," said analyst Joshua Pokrzywinski.

MKM Partners today reiterated a Buy on Ingersoll-Rand and raised its price target to $60.00 (from $55.00).

For an analyst ratings summary and ratings history on Ingersoll-Rand (NYSE: IR) click here. For more ratings news on Ingersoll-Rand click here.

Shares of Ingersoll-Rand closed at $52.36 yesterday.

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