Ingersoll-Rand downgraded to In Line from Outperform at Evercore ISI

Evercore ISI downgraded Ingersoll-Rand to In Line from Outperform with a price target of $89, up from $81. The analyst says it is now prudent to take profits in the machinery space following the post-earnings rallies. The downgrade is not so much company-specific as it is a call to take profits on the group, the analyst tells investors in a research note.