UPDATE - UBS Upgrades IDEX Corp. (IEX) to Buy; Pullback Offers Entry Into High-Quality SMID
Tweet
Share
E-mailGet Alerts IEX Hot Sheet
Price: $234.39 +0.27%
Rating Summary:
15 Buy, 13 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
15 Buy, 13 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
UPDATE - UBS upgrades IDEX Corp. (NYSE: IEX) from Neutral to Buy. PT raised $2 to $52.
UBS analyst says, "Beyond broader macro pressures, we suspect concerns about IEX’s US muni exposure (12% of sales) amidst the budget debate and its US consumer exposure (3%) in the wake of weaker consumer metrics (e.g. confidence, employment) have weighed on shares. But we think the portfolio generally remains strong and expect a solid 2Q that takes 2011/12 estimates up. Shares are at 8x on our 2012E EBITDA, the low end of IEX’s historic 8-11x range, and we think offer good risk/reward."
UBS raises FY11 EPS estimate from $2.45 to $2.47 and FY12 from $2.90 to $2.93.
UBS analyst says, "Beyond broader macro pressures, we suspect concerns about IEX’s US muni exposure (12% of sales) amidst the budget debate and its US consumer exposure (3%) in the wake of weaker consumer metrics (e.g. confidence, employment) have weighed on shares. But we think the portfolio generally remains strong and expect a solid 2Q that takes 2011/12 estimates up. Shares are at 8x on our 2012E EBITDA, the low end of IEX’s historic 8-11x range, and we think offer good risk/reward."
UBS raises FY11 EPS estimate from $2.45 to $2.47 and FY12 from $2.90 to $2.93.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Idex Corp. (IEX) Reiterated at Buy by Stifel
- Deutsche Bank Upgrades Target Hospitality (TH) to Buy
- Freedom Broker Upgrades Walmart (WMT) to Buy
Create E-mail Alert Related Categories
UpgradesRelated Entities
UBSSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
