UBS Maintains a 'Neutral' on IDEX Corp (IEX); Updating Model Post Q4 Results
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Price: $240.43 +0.62%
Rating Summary:
15 Buy, 13 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
Rating Summary:
15 Buy, 13 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
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UBS maintains a 'Neutral' on IDEX Corp (NYSE: IEX) price target raised from $41 to $45.
UBS analyst says, "We're trimming our core revenue growth forecast by 60bp to 5.3%, layering in some added conservatism across all segments given weak 4Q bookings and more muted commentary around the organic growth outlook, though pressure spots were as expected (NIH-exposed markets in HST, U.S. water, fire, rescue, Dispensing). Conversely, potential upside on margins seems ahead of our expectations, we think on restructuring actions planned for 1H12, but with gains likely 2H-weighted."
"We think valuation looks reasonable but are concerned multiples will be constrained by ongoing municipal end market pressures and NIH funding uncertainties that we think persist through the U.S. election and limit at least 2012 growth in the HST business – a core growth driver."
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 $41.56 yesterday.
UBS analyst says, "We're trimming our core revenue growth forecast by 60bp to 5.3%, layering in some added conservatism across all segments given weak 4Q bookings and more muted commentary around the organic growth outlook, though pressure spots were as expected (NIH-exposed markets in HST, U.S. water, fire, rescue, Dispensing). Conversely, potential upside on margins seems ahead of our expectations, we think on restructuring actions planned for 1H12, but with gains likely 2H-weighted."
"We think valuation looks reasonable but are concerned multiples will be constrained by ongoing municipal end market pressures and NIH funding uncertainties that we think persist through the U.S. election and limit at least 2012 growth in the HST business – a core growth driver."
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 $41.56 yesterday.
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