Why This Ingersoll Rand Analyst Turned Bullish
Portfolio Pulse from Priya Nigam
Shares of Ingersoll Rand Inc (NYSE:IR) recovered slightly after a recent downturn. Analyst Nathan Jones from Stifel upgraded the rating for Ingersoll Rand from Hold to Buy, maintaining a price target of $73. Jones believes the company's balance sheet optionality provides significant upside and expects much of the capital to be used for mergers and acquisitions.
October 24, 2023 | 9:46 pm
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Ingersoll Rand's shares recovered slightly after a recent downturn. The company's rating was upgraded from Hold to Buy by Stifel analyst Nathan Jones, who expects capital to be used for mergers and acquisitions.
The upgrade from Hold to Buy by a Stifel analyst indicates a positive outlook for Ingersoll Rand. The expectation of capital being used for mergers and acquisitions suggests potential growth and expansion for the company, which could positively impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100