Barrington Research Cuts Price Target on Nordson (NDSN), Encourages to Buy on Weakness
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Price: $332.24 -0.73%
Rating Summary:
12 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
12 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barrington Research is reiterating its Outperform rating on shares of Nordson (NASDAQ: NDSN), but is cutting its price target from $65 to $45 following its third quarter results.
The company released its third quarter results with sales $13 million below the firms estimate and EPS $0.07 below. Management offered fourth quarter guidance with a sales range of $315-327 million and EPS of $0.77-$0.84. The firm noted that management believes 2012 will result in higher sales despite deterioration.
The firm is lowering its 2011 and 2012 EPS estimates from $3.36 and $3.64 to $3.20 and $3.15 to reflect growing global uncertainties.
Barrington Research is forecasting that NDSN will outperform its peers during the coming industrial downturn due to its global sales diversity, value added products, and new product innovations.
"We view NDSN as a core holding and are buyers on stock weakness," reports an analyst at Barrington Research.
For more ratings news on Nordson click here and for the rating history of Nordson click here.
Shares of Nordson closed at $41.29 yesterday.
The company released its third quarter results with sales $13 million below the firms estimate and EPS $0.07 below. Management offered fourth quarter guidance with a sales range of $315-327 million and EPS of $0.77-$0.84. The firm noted that management believes 2012 will result in higher sales despite deterioration.
The firm is lowering its 2011 and 2012 EPS estimates from $3.36 and $3.64 to $3.20 and $3.15 to reflect growing global uncertainties.
Barrington Research is forecasting that NDSN will outperform its peers during the coming industrial downturn due to its global sales diversity, value added products, and new product innovations.
"We view NDSN as a core holding and are buyers on stock weakness," reports an analyst at Barrington Research.
For more ratings news on Nordson click here and for the rating history of Nordson click here.
Shares of Nordson closed at $41.29 yesterday.
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