J.P. Morgan Overweight On Ingersoll Rand (IR)

J.P. Morgan has an Overweight rating and a $52 price target on shares of Ingersoll Rand IR after the company reported earnings. In a note to clients, J.P. Morgan writes, "The 1Q was messy, with many moving parts, though management delivered on revenue upside with forward confidence reinforced by an upward revision to core guidance that remains conservative. This call remains about expectations and, while a positive development, we do not think 1Q is enough to kill the stubbornly negative sentiment/Bear case here. The stock is approaching our price target, but the positive story around restructuring and late cycle acceleration remains intact and we reit the OW on this basis." Shares of IR lost 2 cents yesterday to close at $50.18.