Stifel raises Ingersoll Rand PT; says air compressor maker has navigated current economic cycle

Ingersoll Rand

16/10/2024 13:11

** Stifel raises target price for air compressor maker
Ingersoll Rand  IR.N  to $112 from $101
    ** "On an organic basis, we believe end-market demand has
likely softened modestly over the last 3 months with demand in
the U.S. softening ahead of the U.S. election and with macro
data less favorable in Europe and China" - Brokerage 
    ** Says co has navigated the current "softer" economic cycle
while maintaining positive growth on average across the
portfolio
    ** Nine of 16 brokerages rate the stock "buy" or higher and
seven "hold"; their median PT is $109 - LSEG data
    ** As of last close, stock up 30.17% YTD

 (Reporting by Anshuman Tripathy in Bengaluru)
 ((Anshuman.Tripathy@thomsonreuters.com;))