Analyst Joseph C Giordano of TD Cowen maintained a Buy rating on IDEX, with a price target of $200.00.
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Joseph C Giordano has given his Buy rating due to a combination of factors that suggest a favorable outlook for IDEX. The stock is currently trading at historically low levels compared to its industrial and healthcare peers, presenting a potential buying opportunity. With stabilization in problematic areas and recalibrated expectations, there is a likelihood of upward revisions in future forecasts, especially if macroeconomic conditions remain stable.
Furthermore, despite a less enthusiastic response to recent earnings, the fundamental elements necessary for growth are in place. The company has shown consistent order growth, particularly in its HST segment, and has achieved a balance between orders and revenue in other areas like FMT. Additionally, businesses such as Mott and Muon have stabilized, with Muon contributing positively to margins. These factors collectively suggest a more favorable risk/reward scenario, supporting the Buy recommendation.
In another report released on October 30, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $192.00 price target.