RBC Capital lowered the firm’s price target on Idex Corp. to $243 from $252 and keeps an Outperform rating on the shares. The analyst notes the company’s Q1 earnings beat but also cites the management having seen some softness in its leading short-cycle industrial businesses in April. Reduced price target reflects the uncertainty, though the firm remain bullish on the long-term opportunities across Idex’s diversified and niche businesses, RBC tells investors in a research note.
Published first on TheFly
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