UBS Maintains a 'Neutral' on IDEX Corp (IEX); Expect In-line 4Q & '12 Outlook
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Price: $240.39 +0.61%
Rating Summary:
15 Buy, 13 Hold, 0 Sell
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Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
15 Buy, 13 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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UBS maintains a 'Neutral' on IDEX Corp (NYSE: IEX) price target raised from $38 to $41.
UBS analyst says, "We expect FMT markets ex-muni stayed robust in 4Q, with chemicals and ag remaining particularly strong, while muni was likely flat-down y/y. HST likely benefited from strength in applied markets and gov't/academic demand that was good but not great; 4Q for key HST customer WAT's was encouraging but we think some of its strength was WAT-specific on product cycle. More broadly FX likely diminished as a tailwind, while financing costs edged up post a Dec refi."
"With IEX's 2012 outlook expected to be in line with Street ests and valuation that is reasonable but not cheap given muni pressures, NIH funding concerns, we’re less constructive here." (UBS raises FY11 EPS estimate by $0.10 to $2.54, but maintains FY12 at $2.79)
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 $40.52 yesterday.
UBS analyst says, "We expect FMT markets ex-muni stayed robust in 4Q, with chemicals and ag remaining particularly strong, while muni was likely flat-down y/y. HST likely benefited from strength in applied markets and gov't/academic demand that was good but not great; 4Q for key HST customer WAT's was encouraging but we think some of its strength was WAT-specific on product cycle. More broadly FX likely diminished as a tailwind, while financing costs edged up post a Dec refi."
"With IEX's 2012 outlook expected to be in line with Street ests and valuation that is reasonable but not cheap given muni pressures, NIH funding concerns, we’re less constructive here." (UBS raises FY11 EPS estimate by $0.10 to $2.54, but maintains FY12 at $2.79)
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 $40.52 yesterday.
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