Nordson (NDSN) PT Raised to $260 After Earnings but Jefferies Sees More Upside to Come

May 26, 2021 8:36 AM EDT
Get Alerts NDSN Hot Sheet
Price: $224.99 +1.04%

Rating Summary:
    11 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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Jefferies analyst Saree Boroditsky raised the price target on Nordson (NASDAQ: NDSN) to $260.00 (from $240.00) on the belief that the company is setting up for a beat and raise in 2H21. The company reported earnings of $2.12/share vs consensus of $1.64/share on stronger top-line and margin performance. Management raised guidance to $7.20-7.50/ share for the full year 2021, but this could prove conservative.

The analyst reiterated a Buy rating, stating "we believe this is conservative and model earnings of $7.66/share given accelerating end markets and strong margin performance". "Nordson delivered a strong earnings beat, and we think there is more to come as we model $7.66/share vs. guidance of $7.20-7.50/share for 2021. Order trends improved through the quarter and remained strong entering 3Q, with Management noting a strengthening in medical, industrial, and electronics fluid dispense."



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