Barclays, Wells Fargo lift Ingersoll Rand's PT on recent acquisitions

Ingersoll Rand

10/07/2024 18:50

** Shares of air compressor maker Ingersoll Rand  IR.N  rise
2.3% to $93.87 
    ** Barclays lifts PT for stock to $106 from $104; Wells
Fargo raises to $102 from $98
    ** IR's acquisition of ILC Dover and three other businesses
in June was a "positive step in the right direction" - Barclays
    ** "The acquisitions are expected to add ~$290 mln of
revenue and $90 mln of EBITDA to 2024 across the remaining 7
months of the year" - Wells Fargo
    ** Nine brokerages rate stock "buy" or higher and six
"hold"; their median PT is $101 - LSEG data
    ** Including session gains, stock was up 21.4% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))