- Ingersoll-Rand (IR +0.4%) is still Market Perform-rated at Wells Fargo post the ALLE spin.
- "While we see longer-term upside potential to IR's stock price driven by good exposure to non-residential construction markets that could have modest growth potential and internal margin improvement initiatives, we believe the stock is currently appropriately valued," analyst Andrew Casey says.
- Price target cut to $60-63 to account for the spin-off.
Ingersoll-Rand fairly valued: Wells Fargo
Dec 24 2013, 10:05 ET