BUZZ-Ingersoll Rand falls after Melius downgrades on slow industrial momentum

Reuters
07/14
BUZZ-<a href="https://laohu8.com/S/IR">Ingersoll Rand</a> falls after Melius downgrades on slow industrial momentum

** Shares of air compressor maker Ingersoll Rand IR.N fall 1% to $88 premarket

** Melius Research downgrades co's rating to 'hold' from 'buy', PT raised to $93, an upside of 4.5% from the stock's last close

** Says co's earnings outlook seems more uncertain than usual, possiby due to macroeconomic or sector-specific headwinds

** Also says the stock is already trading at the mid-to-high end of its historical PE range, suggesting limited room for multiple expansion

** Notes despite the market's optimism, ongoing tariff uncertainty continues to weigh on industrial decision-making, a trend Ingersoll Rand had already highlighted in prior quarters

** 9 of 17 brokerages rate the stock "buy" or higher, 8 "hold"; their median PT is $91- data compiled by LSEG

** As of last close, stock had fallen 1.6% YTD

(Reporting by Apratim Sarkar)

((Apratim.Sarkar@thomsonreuters.com))

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