Berenberg Starts Nordson (NDSN) at Buy

June 5, 2020 7:24 AM EDT
Get Alerts NDSN Hot Sheet
Price: $218.10 +0.09%

Rating Summary:
    11 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 0 | New: 25
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Berenberg analyst Andrew Buscaglia initiates coverage on Nordson (NASDAQ: NDSN) with a Buy rating and a price target of $22.00.

The analyst comments "Nordson is a manufacturer of automated precision dispensing and adhesive equipment, differentiated by its close customer relationships and direct sales channel (~95% of sales). Through a very large installed base, it sells aftermarket parts and has acquired its way into growing medical consumables markets. This has helped push recurring revenue to 54% of sales. In electronics, its dispensing and testing sales are poised to benefit from the miniaturisation of semiconductors and buildout of 5G infrastructure. We believe growth in this more-cyclical business (23% of sales) can surprise in 2021 as the industry is poised to rebound."

For an analyst ratings summary and ratings history on Nordson click here. For more ratings news on Nordson click here.

Shares of Nordson closed at $190.52 yesterday.

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