The analyst firm set a price target of $80 for the diversified machinery company.
Keybanc analysts upgraded Ingersoll-Rand following the company's analyst day. The analysts see further runway on what was consistently strong execution at driving margin improvement and above-average growth, which they expect to continue.
"In addition, we like IR's end market exposures, in particular its leverage to sustained improvement in N.A. construction (reflective of our broader macro thesis), with minimal risk to oil & gas and slow international markets/FX headwinds," the analysts wrote. "Finally, we positively view the Company's straightforward approach to capital allocation, which includes a strong emphasis on returning cash to shareholders (through dividends and buyback), supplemented by logical bolt-on M&A (most recently FRIGOBLOCK, Cameron Centrifugal Compressor)."
Separately, TheStreet Ratings team rates INGERSOLL-RAND PLC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate INGERSOLL-RAND PLC (IR) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, good cash flow from operations and solid stock price performance. We feel its strengths outweigh the fact that the company has had sub par growth in net income."