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UPDATE: Global Hunter Securities Upgrades Nordson (NDSN) to Buy

July 14, 2014 7:55 AM EDT
Get Alerts NDSN Hot Sheet
Price: $263.65 --0%

Rating Summary:
    10 Buy, 10 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 5 | New: 36
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(Updated - July 14, 2014 9:15 AM EDT)

Global Hunter Securities upgraded Nordson (NASDAQ: NDSN) from Neutral to Buy with a price target of $85.00 (from $80.00).

Analyst Walt Liptak said, "Following a review of NDSN's operations, we believe that Q2:14 sales trends are continuing into Q3:14 (July). NDSN shares have recently pulled back by ~6%, which sets up what we believe is a buying opportunity."

"We are moving our Q3:14 sales and EPS to the high end of consensus and believe that the Advanced Tech segment could provide profit upside. We are increasing our 2014-2015 EPS estimates to $3.78 from $3.73 and $4.35 from $4.21. Our new $85 price target (increased from $80) equates to a 2015E P/E of 19.5x and EV/EBITDA of 12.6x. We are raising our rating to Accumulate from Neutral. We believe that NDSN should trade at a premium to the Diversified Industrials group and should trade in line with our group of Industrial Technology companies," he added.

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

Shares of Nordson closed at $77.06 yesterday.



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