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Investing.com - Melius Research downgraded Ingersoll-Rand (NYSE:IR) from Buy to Hold on Monday, while setting a price target of $93.00.
The downgrade comes after Melius had maintained a Buy rating on the industrial company for several years. The research firm cited narrowing growth opportunities and limited potential for outperformance compared to stocks in more thematic growth sectors.
Melius noted that while Ingersoll-Rand remains a "core holding with compounding growth," current multiples are at the mid-to-high end of historical ranges, and earnings outlooks face greater uncertainty than normal.
The firm identified potential headwinds in healthcare and renewable energy markets, with the research note mentioning that "the Big Beautiful Bill has put a lot of uncertainty into clean tech and healthcare end markets."
Melius suggested the current quarter could see some margin relief from tariffs, though it cautioned that "the resolution of tariff uncertainty continues to be delayed," contributing to its more cautious stance on the stock.
In other recent news, AMETEK, Inc. reported its first-quarter 2025 financial results, revealing an earnings per share (EPS) of $1.75, which surpassed analysts’ expectations of $1.69. However, the company’s revenue slightly missed projections, coming in at $1.73 billion against the anticipated $1.74 billion. In addition to its earnings report, AMETEK announced a definitive agreement to acquire FARO Technologies (NASDAQ:FARO) for approximately $920 million, with the transaction expected to close in the latter half of 2025, pending customary approvals. This acquisition aims to integrate FARO into AMETEK’s Ultra Precision Technologies division, potentially enhancing its market portfolio. Furthermore, AMETEK’s recent Annual Meeting of Stockholders resulted in the election of Dean Seavers and David A. Zapico to the Board of Directors for terms expiring in 2028. Shareholders also ratified Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. These developments reflect AMETEK’s ongoing strategic initiatives and financial performance updates.
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