MKM Partners reported on Monday that they have increased their price target on industrial and commercial products company, Ingersoll-Rand PLC(IR).
Analysts see the company recovering from improvements in the commercial construction industry. The firm has maintained its “Buy” rating on the company, and has increased its price target from $55 to $60. This price target suggests a 13% increase from the stock’s current price of $52.26.
An analyst from the firm noted, “we believe valuation will continue to expand over time as investors view IR as having best-in-class earnings leverage in a commercial recovery, conservative guidance that could ultimate drive beats and raises through the year and a developing track record of delivering on margin expansion goals.”
Ingersoll-Rand shares were mostly flat during Monday morning trading. The stock has increased 39% in the past year.
The Bottom Line
Shares of Ingersoll-Rand PLC(IR) have a 1.60% yield, based on Monday morning’s price of $52.50.
Ingersoll-Rand PLC(IR) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.