Morgan Stanley analyst Christopher Snyder raised the firm’s price target on Ingersoll-Rand (IR) to $92 from $82 and keeps an Equal Weight rating on the shares. The firm is updating for EPS and rolling forward estimate. The price target change reflects rolling forward its same 22-times multiple on higher 2027 numbers, Morgan Stanley says. The firm notes Ingersoll-Rand is the last true compounder across U.S. Industrials, consistently layering mid-single-digit M&A contribution on top of mid-single-digit-plus organic growth.
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