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Ingersoll-Rand downgraded at J.P. Morgan on valuation

Sep. 20, 2017 2:53 PM ETIngersoll Rand Inc. (IR) StockIRBy: Carl Surran, SA News Editor
  • Ingersoll-Rand (IR -1.5%) is downgraded to Neutral from Overweight at J.P. Morgan, which believes current valuation leaves little room for multiple expansion and sees more relative upside and better risk/rewards elsewhere in the electrical equipment and multi-industry sector.
  • Analyst Stephen Tusa says IR is performing well but may be in the later innings when it comes to sustainability of positive trends as margins face risks from commodity inflation.
  • However, Tusa expects IR's solid execution to continue and raises his price target for the shares to $98 from $96.

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