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Fly News Breaks for November 19, 2018
IR
Nov 19, 2018 | 18:08 EDT
Stephens analyst Rob McCarthy initiated Ingersoll-Rand with an Overweight rating and a price target of $118, saying the company's non-residential construction business which accounts for over 30% of its revenue is in the midst of a 5-year growth cycle. The analyst expects Ingersoll-Rand's Climate segment to see mid-single-digit growth, supporting the overall EPS growth of double-digits through 2020. McCarthy also anticipates the Q4 results and initial FY19 outlook for Ingersoll-Rand to be "solid" considering its "bookings and order rates".
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