IDEX Corp (IEX) PT Raised to $200 at Rosenblatt on 2022 Estimates
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Rosenblatt analyst Scott Graham raised the price target on IDEX Corp (NYSE: IEX) to $200.00 (from $178.00) after speaking with management, performing an analysis on end markets and establishing 2022 estimates. The PT increase is the result of rolling the model forward to 2022.
The analyst reiterated a Buy rating, stating "IEX is early cycle and its sales are largely derived from opex and replacement demand of its customers and activity in its markets is improving. On track cost reductions lend visibility to our incremental margin forecasts. Additionally, we believe, under a reasonable set of assumptions, IEX can add 5% to 10% to earnings over the next year through acquisitions. IEX remains one of our top picks and we're raising our price target to $200".
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