Citi analyst Andrew Kaplowitz raised the firm’s price target on Ingersoll-Rand to $64 from $62 and keeps a Buy rating on the shares. The analyst also opened a 90-day "positive catalyst watch" on the shares. The company is well positioned to deliver "solid" Q1 results with a "relatively constructive" 2023, the analyst tells investors in a research note. Potentially better than expected order resilience coupled with sustainable ongoing acquisition-related tailwinds at Ingersoll-Rand should drive topline and earnings resilience, contends the firm.
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Published first on TheFly
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Read More on IR:
- Ingersoll-Rand price target raised to $64 from $62 at Citi
- Ingersoll-Rand price target raised to $55 from $53 at Deutsche Bank
- Ingersoll-Rand price target raised to $62 from $52 at Baird
- Ingersoll-Rand price target raised to $64 from $60 at Barclays
- Ingersoll-Rand sees 2023 adjusted EPS $2.48-$2.58, consensus $2.51