- Ingersoll-Rand (IR -0.2%) is upgraded to Buy from Hold with an $86 price target at Argus, which expects IR to benefit from improving economic conditions and strength in U.S. construction markets, as well as recent acquisitions.
- Argus also looks for IR's Climate segment to continue to deliver mid-single-digit growth, driven by strength in the U.S. and Europe.
- The firm says IR management is focused on rewarding shareholders, and believe shares are favorably valued relative to peers based on P/E and price/sales.