Rosenblatt Starts IDEX Corp (IEX) at Buy
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Rosenblatt analyst Scott Graham initiates coverage on IDEX Corp (NYSE: IEX) with a Buy rating and a price target of $185.00.
The analyst comments "IDEX is one of the highest-quality companies in the industrial space. It has a strong LT earnings track record and margins and ROIC well above peers. It has unique and successful approaches to sales and margins, executes with the best of them and a portfolio laden with advanced technology businesses. IEX differentiated itself in the industrial recession of 2015-16 by growing earnings and generating above-average organic. It is a compounder. We expect short-cycIe weakness to limit earnings growth to +MSD through 1H20 but then for earnings to accelerated to +DD in 2H20-21. We view IEX as a safe-haven in an industrial slowdown."
Shares of IDEX Corp closed at $160.54 yesterday.
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