Analysts Bump Up Ingersoll Rand Price Target Post Investor Day

Wells Fargo analyst Joseph O'Dea upgraded Ingersoll Rand Inc IR to Overweight from Equal Weight and raised the price target to $68, from $58.
O'Dea says he was "impressed" with Ingersoll-Rand's investor day "on a number of fronts" and views Ingersoll as one of the best multi-year set-ups on organic growth, M&A growth, margin expansion, and earnings growth.
IR has attractive exposure to key themes like digitalization, energy transition, and ESG, which O'Dea expects stronger relative valuation than the EEMI group.
Deutsche Bank analyst Nicole DeBlase raised the price target to $67 from $63 and maintained a Buy rating on the shares post the investor day.
Credit Suisse analyst John Walsh raised the price target from $59 to $62 and maintained a Neutral rating.
Price Action: IR shares are trading higher by 1.15% at $61.60 during the premarket session on Friday.

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