Jefferies Raises PT/Estimates on IDEX Corp (IEX) After Strong Q4

Jefferies raised estimates and its price target on Buy-rated IDEX Corp (NYSE: IEX) from $49 to $50 after strong Q4.

The firm comments, "4Q11 EPS from ops increased 19% and exceeded expectations on broad-based sales growth. Core orders were flat in 4Q owing to several factors, but January orders accelerated. 2012 guidance captures our/Street forecasts. We believe there are multiple earnings drivers and there is good visibility on guidance."

FY12 EPS estimates were raised from $2.75 to $2.79 and FY13 EPS from $3.12 to $3.14.

For an analyst ratings summary and ratings history on IDEX Corp click here. For more ratings news on IDEX Corp click here.

Shares of IDEX Corp closed at $42.06 yesterday, with a 52 week range of $29.29-$47.50.

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