Ingersoll-Rand price target raised to $100 from $83 at Wells Fargo

Wells Fargo analyst Joseph O’Dea raised the firm’s price target on Ingersoll-Rand to $100 from $83 and keeps an Overweight rating on the shares. The firm notes Q4 strength helped push the initial 2024 EPS guidance above its expectations, though Wells believes the organic growth outlook is conservative and +400bps-500bps of annualized M&A to come was a positive surprise.