Ingersoll-Rand price target raised to $79 from $76 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Ingersoll-Rand to $79 from $76 and keeps a Buy rating on the shares. The company had a “solid” Q2 earnings beat while its FY23 guidance appears “conservative”, the analyst tells investors in a research note. The firm also continues to be encouraged by the strength in Ingersoll-Rand orders, up 5% organically, and backlog, up 12% from last year.