Idex Corp. price target lowered to $256 from $260 at Baird

Baird lowered the firm’s price target on Idex Corp. to $256 from $260 and keeps an Outperform rating on the shares. The firm said earnings handily beat expectations as Industrial/water businesses are stabilizing or improving, while life science dynamics remain depressed. Full-year expectations were maintained, but 2Q guidance was light of expectations and implied 2H ramp is meaningful.