IDEX Corp (IEX) Numbers Cut at Jefferies

Jefferies analyst Bhupender Bohra lowered its price target on Hold-rated IDEX Corp (NYSE: IEX) to $77.00 (from $80.00) after slightly better than expected 4Q, ex one time tax benefit, as productivity benefits more than offset weaker than expected core sales.

"Free cash flow conversion was strong at 114%. 2016 guidance, however, was weak. We expect current end-market weakness to persist in 1H with easy comps in 2H," Bohra commented. "We've lowered our estimates, and believe the stock is fairly valued."

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 $69.50 yesterday.

You May Also Be Interested In

• Unicycive Therapeutics (UNCY) PT Raised to $15 at Benchmark Following Q2 Results
• Deutsche Bank Starts Ardagh Metal Packaging S.A. (AMBP) at Hold
• Rubrik Inc (RBRK) PT Raised to $120 at Cantor Fitzgerald Into Q2 Earnings