Climate control specialist Ingersoll-Rand PLC (IR) on Tuesday caught some further bullish commentary from analysts at UBS.
The firm maintained its “Buy” rating on IR and lifted its price target to $45, suggesting a 12% upside to the stock’s Monday closing price of $40.24. UBS said it made the move because the end market outlook for IR’s business is overly conservative.
Ingersoll-Rand shares rose $1.20, or +3%, in morning trading Tuesday.
The Bottom Line
Shares of Ingersoll-Rand (IR) have a 1.59% dividend yield, based on last night’s closing stock price of $40.24. The stock has technical support in the $35 price area. If the shares can firm up, we see overhead resistance around the $43-$45 price levels.
Ingersoll-Rand PLC (IR)is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.