- Ingersoll-Rand (IR +0.9%) is initiated with an Outperform rating and $80 price target at BMO Capital, which predicts a higher level of organic growth and strong margin expansion at the company.
- BMO points to a reasonably valued stock, huge upside potential for returns, and HVAC orders and backlog that provide strong visibility through 2017.
- The firm says new products are energizing growth, and management's focus on lean initiatives and structurally improving its operating processes, are "systematically transforming" IR's profitability.